SBP fixes Nisab for Zakat deduction on bank accounts at Rs44,415.

The State Bank of Pakistan has fixed the Nisab for Zakat deduction on bank accounts at Rs44,415 for the ongoing year.

Zakat will be deducted from saving accounts, profit and loss sharing accounts and other similar accounts having a balance of Rs44,415 or above, on the first of Ramazan.

No Zakat would be deducted on amounts less than Rs44,415.

To be liable for Zakat - which is one of the five pillars of Islam - one's wealth must amount to more...