Pakistan Sets Minimum Nisab for Zakat Deduction in 2023

The Nisab for Zakat deduction on bank accounts has been fixed by the Pakistani government at Rs103,159 for the calendar year 2023.

The Poverty Alleviation and Social Division has announced that on the first day of Ramadan, Zakat will be deducted from savings and profit-sharing accounts with balances larger than Rs103,000.

According to Zakat and Ushr Ordinance, if a bank account has less money in it than the government-set limit, nothing would be taken out.

Islam’s demand that one’s wealth exceed a predetermined amount known as “Nisab” in order to qualify for zakat is one of its core principles. For clients who don’t wish to pay, banks provide Zakat exemption services.

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