ISLAMABAD (Dunya News) – The Ministry of Poverty Alleviation and Social Safety has set the Zakat nisab for 2026 at Rs503,529.
The announcement specifies that Zakat will be deducted from bank accounts holding this minimum balance or more.
Authorities clarified that the deduction applies to savings accounts, profit and loss sharing accounts, and other eligible accounts. Accounts enjoying Shariah or legal exemptions will remain unaffected.
Bank procedures
The ministry has instructed all banks to deduct Zakat from depositors who have not submitted exemption declarations. Officials confirmed that the process will follow the prescribed rate as per existing regulations.
To facilitate the deduction process, banks will remain closed to the public on the first day of Ramazan. This ensures smooth completion of all Zakat-related transactions.
Exemptions clarified
Officials emphasised that Zakat will not be deducted from accounts with valid Shariah or legal exemptions. Depositors are advised to submit relevant exemption declarations to avoid automatic deductions.
The ministry’s annual notification aims to streamline the Zakat collection system and ensure compliance across all financial institutions.