Zakat deduction fixed at Rs33,641

Karachi: The State Bank of Pakistan on Tuesday fixed Rs33,641 as the minimum amount for deduction of Zakat on bank accounts from the first of Ramazan.


The SBP said that 2.5 percent Zakat would be deducted from savings accounts holding Rs33,641 or more. Deduction of Zakat will be only applicable to savings accounts and will not apply to current accounts.

Zakat will be deducted on the first day of Ramazan, which would fall either on Thursday (June 18) or Friday (June 19), depending on sighting of the moon.

Nisab-i-Zakat for the previous year had been fixed at Rs38,810.