*Note: Zakat is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to 85 grams of 24k gold, is the minimum amount of wealth one must have before they are liable to pay zakat.
Nisab Threshold (as in January 2025):
Using value of silver (612.36 grams): approximately $588
Using value of gold (87.48 grams): approximately $7,498
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