KARACHI – Pakistani government has fixed Nisab for Zakat deduction on bank accounts at Rs79,699 for the year 2025 ahead of Zakat deduction.
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 deductions.
An official notification has also been sent to banks, current accounts will remain exempt from Zakat deductions. The deduction process will take place either on March 1 or 2, depending on the sighting of Ramadan crescent and the official start of Ramadan, which is anticipated to begin on March 2, 2025.
Bank accounts with balance below the prescribed Nisab limit on the first day of Ramadan will not be liable for Zakat deductions. This move is part of the country’s ongoing efforts to ensure the proper collection of Zakat, which is used to support the underprivileged.
Nisab threshold shows the minimum amount of wealth a person must have for Zakat to be applicable, and its announcement marks an important step as the country prepares for the holy month of Ramadan.
All banks, development finance institutions (DFIs), and microfinance banks (MFBs) will remain closed for all kind of public dealings on first working day of Ramadan 1446 AH for the purpose of Zakat deduction, the central bank announced earlier.
Ramadan 2024: Minimum Nisab for Zakat deduction from bank accounts revealed
