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The new regulations state that Zakat will be deducted from accounts with a balance of Rs179,689 or more on the first day of Ramadan, which falls on March 1 or 2, 2025. This rule emphasizes the seriousness of observing fasts during Ramadan and provides a means of expiation for those who break their fast intentionally. Frequently Asked Questions (FAQs) 1. Why is Zakat deducted from bank accounts? Zakat is a religious obligation aimed at wealth redistribution and helping those in need. According to the notification issued today, the Nisab of Zakat has been set at Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only). This threshold applies to savings in bank accounts, profit and loss sharing accounts, and similar banking assets (Asset Code No. 101) as outlined in the Zakat and Ushr Ordinance, 1980. An announcement made by the Federal Ministry of Poverty Alleviation and Social Protection said Zakat Nisab for Ramadan 1446AH has been set at Rs179,689. Those with savings, profit- and loss-sharing accounts, and similar deposit accounts holding a balance equal to or exceeding this amount on the first day of Ramadan will be subject to Zakat According to Islamic guidelines, every adult Muslim who meets the Nisab threshold is obligated to give Zakat. Zakat in Ramadan: What It Is and Why It Matters Zakat is a mandatory charity —2.5% of eligible wealth—to support those facing poverty, hunger, and crisis. It is a spiritual obligation and a path to barakah (blessings) in this life For savings (deposits) held in any bank or financial institution, the calculation of zakat follows the rules of zakat on gold and silver (known as zakat al-naqdayn). These rules also apply to cash currency since it serves the same function in transactions, buying and selling. What is Ramadan? Ramadan is a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide. From Fajr (dawn) to Maghrib (sunset), those fasting abstain from food, drink, and distractions, focusing on worship and strengthening their connection with Allah (SWT). There is no specific time frame for when to pay Zakat, though many Muslims choose to make their donation during Ramadan to gain extra blessings. Who Can You Give Zakat To? Allah (SWT) has specified eight categories of eligible recipients for Zakat: The wayfarer – travellers in need. Experience the blessings of Ramadan with Zakat Foundation. Give Zakat al-Fitr, support those in need, and make a difference this holy month. Foster community and spread generosity today. It does oblige every Muslim, regardless of age or gender to pay Zakat Al-Fitr, the “Zakat of Fast-Breaking,” in Ramadan. Did the early Muslims pay their Zakat in Ramadan? From the days of the Prophet, on him be peace, Muslims have preferred to pay their Zakat in Ramadan. The SBP Bank Holiday on the first Ramadan of 2025 aligns with the annual tradition of Zakat deduction in Pakistan’s banking system. Customers are advised to plan their transactions accordingly and utilize digital banking services on the day when physical banking operations will be halted. The Federal Ministry of Poverty Alleviation and Social Protection has officially announced the Zakat threshold for 2025. According to the latest notification, Zakat will be deducted from bank accounts on 1st Ramadan 1446 Hijri, if the account balance meets or exceeds the prescribed limit. Pusat Pungutan Zakat – Majlis Agama Islam Wilayah Persekutuan (“PPZ-MAIWP”) Lembaga Zakat Selangor (“LZS”) Lembaga Zakat Negeri Kedah (“LZNK”). The Space and Upper Atmosphere Research Commission (SUPARCO) predicts the new moon will appear on February 28 at 5:45 AM and will be visible on March 1 evening. The bank holiday on the first day of Ramadan is a regular practice to support Zakat deduction as per banking rules. Karachi: Gas Load Shedding Timings Released for Ramadan 2025 How many types of Zakat? Zakat al-Fitr is also referred to as ‘Fitrana’, it is a donation before the Eid al-Fitr prayer at the end of Ramadan. The purpose of Zakat al-Fitr is to enable poor people to celebrate Eid. Zakat al-Mal is also known as 'Zakat on wealth' or 'alms-giving'. An annual obligation is to give a portion of wealth including 10 Importance of Ramadan: Ramadan, the ninth month of the Islamic lunar calendar, is a sacred time for Muslims worldwide. It is a month of fasting , prayer, reflection, and community. The significance of Ramadan is deeply rooted in the Quran and the teachings of Prophet Muhammad (peace be upon him).
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