I have a combination of savings, shares and insurance. Do I sum them up all, check if it exceeds the nisab, and if yes, I take the net values then times 2.5%? Or do I do the calculation individually on each asset class?

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The Zakat for your savings, shares and insurance is calculated separately and not summed up together before performing calculation. This is because the calculation method for each is different:

a. Zakat on Savings: Based on 2.5% of lowest balance in year if this balance does not fall below nisab value.

b. Zakat on Shares: Based on 2.5% of total market value of shares owned at the end of year if this value does not fall below nisab value.

c. Zakat on Insurance: Based on 2.5% of the surrender value when haul and nisab are due.

I have a combination of savings, shares and insurance. Do I sum them up all, check if it exceeds the nisab, and if yes, I take the net values then times 2.5%? Or do I do the calculation individually on each asset class?

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