Kurdistan Region Fatwa Council sets zakat threshold at 3 million dinars

ERBIL — The High Fatwa Council of the Kurdistan Region has set this year’s zakat threshold at 3 million Iraqi dinars ($2,000) and fixed the per-person fitr alms at 3,000 dinars ($2), according to a statement issued Thursday.

The council said the fidya — paid by those unable to fast due to illness or a valid religious reason — is also set at 3,000 dinars per day.

Under the ruling, the nisab, or minimum amount of savings subject to zakat, is set at 3 million dinars. Under Islamic practice, anyone who possesses that amount for a full lunar year is expected to pay 2.5 percent as zakat.

For every 1 million dinars ($667), the zakat due is 25,000 dinars ($17). For every $10,000 held for a year, the zakat due is $250.

For gold, the nisab is set at 20 mithqals (about 85 grams). If that amount has been held for a year, half a mithqal is payable as zakat. If a person owns 40 mithqals, one mithqal becomes due.

Regarding women’s jewelry used for adornment and not for trade, the council set the nisab at 200 mithqals (about 850 grams). If holdings reach that level, 2.5 percent is payable.

For silver, the nisab is 200 dirhams, equivalent to 140 mithqals (about 595 grams). If the amount reaches that level and a year has passed, 2.5 percent is payable as zakat.

The council said the determinations are intended to clarify religious obligations for the current year.