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Yes, men are obligated to pay Zakat on gold if they own it, regardless of whether they wear it or not.
Zakat is a mandatory religious obligation for Muslims, and it applies to wealth above a certain threshold. This includes gold, silver, cash, savings, and other assets. Zakat is one of the five pillars of Islam, and it serves as a means of purifying wealth.
The amount of Zakat paid is typically 2.5% of a Muslim's total wealth, which includes assets like gold. Gold, whether in the form of jewelry, coins, or bars, is subject to Zakat as long as it meets the minimum required threshold, known as the Nisab of Zakat.
Zakat is a way to support the less fortunate, and it is distributed to the poor, needy, and others who are struggling. It is an important practice for ensuring fairness and addressing inequality in society.
As per Islamic principles, Zakat should be paid annually, and it is calculated based on the value of assets a person owns after one full lunar year.
In terms of who can pay Zakat, it is important to note that a person can pay Zakat on behalf of someone else, with their permission. This act is considered a form of kindness and support for others in fulfilling this religious duty.
Thus, men are obligated to pay Zakat on gold they own, and the payment is calculated based on the total value of their assets, including gold, silver, cash, and trade goods. This ensures that Zakat serves its purpose of helping the less fortunate while adhering to the principles set out in Islam.
And Allah knows best!
WRITTEN BY
Atta-ur-Rehman
Atta-ur-Rehman, a specialist in Fiqh from Fazal-Jamiat-ul-Uloom-ul-Shariah, Jama'at ul-Umar Karachi, is an expert in Islamic jurisprudence. His expertise spans various aspects of Shariah, including Zakat, financial rulings, family laws, and ethical guidance in everyday life. With a deep understanding of Islamic principles, he provides a reliable insights into matters of faith, worship, and personal obligations.