he Ministry of Poverty Alleviation & Social Safety in Pakistan has set the Nisab for Zakat at Rs. 179,689 for the fiscal year 1445-46 AH, as stated in a recent notification by the Administrator General Zakat. This figure marks the threshold below which no Zakat deductions will be applied to bank accounts during the holy month of Ramadan, anticipated to start on either March 1 or March 2, 2025, based on lunar observations.
Bank accounts, including Savings and Profit and Loss Sharing Accounts, with balances exceeding the Nisab on the first day of Ramadan will be subject to Zakat deduction. The Zakat Collection & Controlling Agencies are tasked with implementing these deductions and are required to deposit the collected amounts into the Central Zakat Account No. CZ-08 at the State Bank of Pakistan, followed by immediate submission of Form CZ-08 (A&B) to the ministry.
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The announcement also clarified that holders of Zakat exemption certificates would not be affected by these deductions. The increase in the Nisab value from last year’s Rs. 135,179 reflects adjustments due to economic shifts and valuation changes, ensuring the continued relevance and fairness of Zakat practices in the country.
