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Zakat on gold bought online

Q:

Salam un Alaikum

My question is regarding zakat
I am a salaried person have No other income. I give regular sadaqaat as well. The salary that I earn every year and after deduction of my expenses, I have left with with $100. This will go for Khums definitely, that is $20 for Khums.

Reason I am not having any saving this year is that I have bought Gold online with about $5000 and it was bought every month and saved since last 12 mmonths. Now please let me know if there is zakat on gold or not. I have the online account and access to convert this gold into cash anytime.

Should I also pay Khums on gold worth $5000. And if I pay zakat then can I distribute on my relatives (all Sadaat – Kazmi) or other Sadaat as I am a Kazmi. If you have any suggestion please tell me. Thanks

A:

Salam alaykum,

Thank you for your question. According to Shia jurists like Ayatullah al-Udhma Sistani, zakat is only liable on gold and silver provided that it is in the form of coins that are used as currency. As this doesn’t apply to to gold and silver used today , there is no zakat on it. However, khums would be liable on it. As far as paying khums to your relatives you would have to obtain the explicit permission of your Marja to do so. Thanks for your question. I hope my answer helps.

Shiraz Agha