Regulatory Alerts2025-02-27 | BPRD Circular Letter No. 04Deduction of Zakat at Source in Respect of Saving Banks / Profit & Loss Sharing and Similar Bank Accounts (Asset Code No. 101) and Deposit Thereof Immediately After Deduction Date
The Administrator General Zakat has established the Nisab of Zakat for the 1445-46 A.H. year at Rs. 179,689, below which no Zakat deduction occurs for applicable bank accounts. Zakat collection agencies must execute deductions on the designated deduction date, expected to be March 1st or 2nd, 2025, pending moon sighting. Agencies are required to submit Form CZ-08 (A&B) to the Ministry immediately following the deposit of funds into the Central Zakat Account held with the State Bank of Pakistan.
GOVERNMENT OF PAKISTAN MINISTRY OF POVERTY ALLEVIATION AND SOCIAL SAFETY No. CE-1001 (36)/NISAB/1445-46/2025-76 Islamabad the 26th February, 2025
The Director, (Banking Policy and Regulations Department) State Bank of Pakistan, Head Office, I.I. Chundrigar Road, Karachi.
Subject:- DEDUCTION OF ZAKAT AT SOURCE IN RESPECT OF SAVING BANKS/PROFIT AND LOSS SHARING AND SIMILAR BANK ACCOUNTS (ASSET CODE NO. 101) AND DEPOSIT THEREOF IMMEDIATELY AFTER DEDUCTION DATE
Sir, I am directed to say that Administrator General Zakat has notified the "Nisab of Zakat" for the Zakat Year 1445-46 A.H at Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only). No deduction of Zakat at source shall be made, in case the amount standing to the credit of an account in respect of the assets mentioned in column 2 of Serial No.1 of the first schedule of Zakat and Ushr Ordinance, 1980, is less than Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only) on the first day of Ramzan-ul-Mubarak, 1446 A.H. First day of Ramzan-ul-Mubarak has already been notified as the "Deduction date" likely to fall on 1st or 2nd March, 2025 (subject to appearance of the moon) for deduction of Zakat from Saving Bank Accounts, Profit and Loss Sharing Accounts and other similar Accounts having credit balance of Rs. 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only).
- All the Zakat Collection & Controlling Agencies (ZCCAs) are requested to deduct the Zakat accordingly. A copy of return of Form CZ-08 (A&B) may please be provided to this Ministry immediately after depositing Zakat in Central Zakat Account No.CZ-08 being maintained with the State Bank of Pakistan.
Yours sincerely, (Dr. Muhammad Ali) Research Officer (Zakat) 051-9210026