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Question: Assalamalikum brother

I have a piece of jewelry which is a ring made out of platinum and has one diamond on it.

It is not gold, neither silver. However when I bought it the price was very very expensive.

Do I pay Zakat on this piece of jewelry?

Answer :

 

السلام عليكم ورحمة الله وبركاته

حامدًا وّمصليًا وّمسلمًا

In the Name of Allaah, the Most Gracious, the Most Merciful

We received your query regarding Zakaat on a platinum ring which has a diamond on it. Our response is as follows:

There is no Zakaat on Platinum or diamond which is for personal use, regardless of how expensive they may be.[1]

The principle governing the levy of Zakaah is that only those assets are Zakaatable which either fall within the definition of money, or are the metals universally accepted as a medium of exchange like silver and gold. All other assets are not Zakaatable unless they are meant for trade and resale.

The precious stones, including diamonds, are no doubt very valuable assets. But if they are not purchased for trading, they are not subject to Zakaah.

And Allaah Ta’ala knows best

 

Answered by:

Musayyab Sahib

18th Ramadhan 1441

12th May 2020

 

Checked and Approved by:

[Mufti] Muhammad Irshad Motara



[1]لا زكوة فى اللآلى والجواهر وإن ساوت ألفًا إتفاقًا إلا أن تكون للتجارة ولأصل أن ما عدا الحجرين والسوائم إنما يزكى بنية التجارة بشرط عدم المانع المؤدى إلى الثني. قال إبن عابدين رحمه الله: قوله والجواهر: كاللؤلؤ والياقوت والزمرد وأمثالها. درر عن الكافى ……قوله ما عدا الحجرين: هذا علم بالغلبة على الذهب والفضة.ط {رد المحتار على الدر المختار ج3 ص194، كتاب الزكوة، زكريا}

وكذا فى فتاوى دار العلوم زكريا ج3 ص104-106، كتاب الزكوة ، زمزم

Also see: contemporary Fataawa – Mufti Taqi Hafidhahullah pg. 60

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