Minimum nisab set at PKR 44,415 for zakat deduction.

People maintaining a minimum of Rs44,415 balance in savings, profit and loss sharing or similar bank accounts in Pakistan on the first day of Ramazan will be liable to pay 2.5percent Zakat on the total balance, the State Bank of Pakistan (SBP) announced on Friday.

However, people who have balance lower than the minimum one or those who have submitted Zakat exemption affidavit by the given deadline of 15 Shaban (April 21) or those people and corporations maintaining 'current accounts' are not liable to pay Zakat at banks.

"According to Administrator General Zakat, Ministry of Religious Affairs and Interfaith Harmony, Nisab for Zakat for the Zakat year 1439-40 AH is Rs44,415 (Rupees forty four thousand four hundred fifteen only)," according to SBP notification.

First day of Ramazan has already been notified as the 'deduction date' of Zakat from savings bank accounts, profit and loss sharing accounts and other similar...