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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?



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.

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