According to a statement issued Wednesday by the Ministry of Poverty Reduction and Social Affairs, no zakat will be deducted if a bank account is less than Rs 88,927. added, the statement.
Zakat will be deducted from savings accounts, profit and loss accounts and other similar accounts with a balance of Rs 88,927. or more, which would be the first in Ramazan Zakat and the Ushr Ordinance of 1980.
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The first Ramazan of this year will likely fall on April 3 or 4, depending on the appearance of the moon. To be responsible for zakat – one of the five pillars of Islam – one’s wealth must be above a threshold called “nisab.”
Those who do not want Zakat to be debited from their account can file a “Zakat Waiver Form” with their respective bank.
State Bank of Pakistan announced holiday on 4th of April for public dealing in banks to deduct the zakat from the applicable account’s.
#SBP will remain closed for public dealing on Monday, April 4, 2022, which shall be observed as “Bank Holiday” for the purpose of deduction of Zakat.
— SBP (@StateBank_Pak) April 1, 2022
See PR: https://t.co/AQ69DQL4Fh pic.twitter.com/Ck52XQpcG9
