Regulatory Alerts2025-02-27 | BPRD Circular Letter No. 04Added · Updated
Deduction of Zakat at Source for Saving Banks and Similar Accounts (Asset Code No. 101)
The Administrator General Zakat has notified the Nisab of Zakat for the Zakat Year 1445-46 A.H. at Rs. 179,689, establishing that no Zakat deduction at source shall be made if the account balance is below this threshold on the first day of Ramzan-ul-Mubarak. The first day of Ramazan-ul-Mubarak is designated as the deduction date, likely falling on 1st or 2nd March 2025, for Saving Bank Accounts, Profit and Loss Sharing Accounts, and other similar accounts with credit balances of at least Rs. 179,689. All Zakat Collection & Controlling Agencies are directed to deduct Zakat accordingly and provide copies of the return of Form CZ-08 (A&B) to the Ministry immediately after depositing the Zakat in Central Zakat Account No. CZ-08 maintained with the State Bank of Pakistan.
GOVERNMENT OF PAKISTAN MINISTRY OF POVERTY ALLEVIATION AND SOCIAL SAFETY :irtrtr+r No. CE-1001 (36)/NISAB/144546/2025-7/ Islamabad the 26m Febtu,ary,2l25 Subject:- DEDUCTION OF ZAKAT AT SOURCE IN RESPECT OF SAVING BANKS/?ROFIT AND LOSS S G AND SIMILAR BANK ACCOUNTS (ASSET CODE NO. 101)ANDD SIT THEREOF IMMEDIATELY AFTER DEDUCTION DATE Sir, I am directed to say that Administrator General Zakat has notified the "Nisab ol Zakat" for the Zakat Year'1.M5-46 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, LM6 A.H. First day of Ramazan-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). 2. 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 Off icer (Zakat) 05-t-92L0026 The Director, (Banking Policy and Regulations Department) State Bank of Pakistary Head Office, I.I. Chundrigar Road, Karachi. -.4