The Monitor

1.  Who needs to pay Zakat? According to the Hanafi madhab, Zakat must be paid by  Muslim adults  who are  mentally sane  and in possession of an amount of  wealth  (net assets) above the  nisab . The Shafi, Maliki and Hanbali madhabs are of the view that Zakat is also payable by children and the insane, as long as their wealth is above the nisab threshold. The word N isab   means  the  minimum amount  of property or wealth / assets that must be owned by a Muslim before they are obliged to start paying Zakat. This minimum amount is called the  nisab threshold. You first become eligible to pay Zakat the day your wealth reaches the nisab threshold. The Zakat is calculated and paid on the wealth of a person after a full lunar (Islamic) year. A lunar year is around 354 days long. Example:  Abdullah has recently started working and is paid £1,000 after one month. He has no debts and therefore his wealth is the full £1,000. The nisab threshold at the time is £190. Therefore, Abdu