Recitation 347.8

أعوذ بالله من الشيطان الرجيم
بسم الله الرحمن الرحيم
ألسلام عليكم ورحمة الله وبركاته
Dear Quran Lovers,
Before we look into the Zakah for Gold, Silver, Money, I wish to remind us all Quran Lovers that these wealth concerns money which was given to us by Allah. If we fuss about money with Allah, in return, Allah will fuss about giving us Rizqi in the future. But if we were to be a "big person with large heart" in calculating our wealth for paying Zakat, Allah will also be or even more "bigger person with larger heart" in bestowing Rizqi to us in the furure.
Zakah For Gold, Silver, Money:
It is Wajib/obligatory on us who are Muslimin, free-persons, possess the wealth without fault, has reached its/the wealth "Nishob"/ minimal value, and it/the wealth has been in our possession for afull one year. (please refer to surah 9 At-Tawbah verses 34 - 35).
The Nishob/minimal value Of Gold and Silver/Money:
The Minimal Value of Gold is 20 Dinars = 20 Mithqol = 85 grammes (= about 3.05 oz). (The Hadith from Ali r.a. narrated by Ahmad, Abu Dawud and Baihaqi). [To know the present time value of the gold, ask a Goldsmith or a Gold shop or wherever, for the price of a gramme of gold]. 
The Nishob/minimal value of Silver is 595 grammes.
Our money/cash is the same as the Gold.
How To Calculate The Zakah To Be Paid:
Let us say the cost of Gold is RM"180.00" (in Malaysian currency) per gramme:
 = RM"180.00" x 85 gram. = RM"15,300.00" = this is the Nishob/minimal value of our Gold and our cash money.
If our money is not amounted to, or below  RM"15,300.00", then we need not pay the Zakat.
If our Gold and silver were valued more than RM"15,300.00", then we will have to pay the Zakah. 
The Rate Of the Zakah:
The rate of Zakah for Gold and silver, and Cash money is 2.5% or Two and A Half percent on the value to the total Gold, silver, and Cash.
To calculate the Rate of the Zakah is:
  Let us say, our Gold and silver are worth RM"30,000.00", the rate of the Zakah is 2.5% or at Two and A Half percent, =     RM"30,000.00" x 2.5% (or x 40) = RM"750.00".
The Zakah to be paid is RM"750.00" only.
Only those Gold and silver and Cash Money which are in our possession for one whole year are Wajib to be Zakah. [ But to play safe, in order that our wealth is cleansed and that we might forget in the next year of some remaining wealth which we do not include them in the calculation for this year, it is wise to calculate all of them notwithstanding they have reached one full year or not. Those which have not reached one full is are considered as Shodaqoh/ alms. We do not lose in doing "business" with Allah.].
(2) Zakah For Trade: (to be continued).
Until we meet again in the next session, see you all Quran Lovers later.
والسلام عليكم ورحمة الله وبركاته
Abdul Hamid Mohd Yusof.
(N.B).
Dear Quran Lovers,
I am very sorry for wrongly typed The Rate of the Zakat = RM"30,000.00" x 2.5% ( or divided by 40 and not x 40 as typed.)
Abdul Hamid Mohd Yusof.