Q: Why is there a gold Nisab and a silver Nisab?

A: There are two standards as opposed to one. The reason for this is that Dinar and Dirham were commonly and interchangeably used in the markets in the Prophetic era.

There are two standards as opposed to one. The reason for this is that Dinar and Dirham were commonly and interchangeably used in the markets in the Prophetic era. The exchange rate at the time was 1:10, and therefore the Zakat payer ended up paying the same amount in terms of purchasing power in the prophetic era. However, there is a stark difference between the gold and silver Nisab today. Hence, the silver Nisab is commonly suggested as the benchmark for Zakat obligation.

And Allah knows best!

Mufti Faraz Adam