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Daily Nisaab Prices

14 November 2018 / 06 Rabi-Ul-Awwal 1440
Nisáb = R4880.51
Silver = R7.97/g (247.87/oz)
Gold = R643.46/g (R17 373.35oz)
Prices & Calculations include VAT

What is the meaning of Nisáb?

Nisáb is a minimum amount of wealth which makes one liable to pay Zakáh. The person who possesses an amount equal to or greater than this specified minimum wealth, which remains in his or her possession for a period of one year is considered wealthy enough to pay the Zakáh.

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The South African National Zakah Fund (SANZAF) is pleased to announce the financial results of its period ended 30 April 2018/14 Shabaan 1439.

“We are eternally grateful to our donors, whose support of our projects and programmes has resulted in SANZAF collecting a total of over R133 million during the reporting period, amid a challenging economic environment,” says SANZAF National Chairperson, Shauket Fakie.

Our Zakah income for this period amounted to R96 million, compared to R111 million in the previous year which, along with our Non Zakah income, enabled us to make a significant impact on the lives of the poor and needy.

The past year has indeed been one of renewed affirmation for SANZAF, as we continue to actively fulfil our mandate to effect meaningful and sustainable change through development and relief.

“We are pleased to report that the proportional distribution of total funds collected, has increased from 91.5%, in the previous year, to 98.2%. This increased distribution is reflected in our empowerment initiatives, which give credence to SANZAF’s new brand positioning of embodying hope in all we do,” added Fakie.

It is noteworthy to mention that our expenditure on the SANZAF Education, Empowerment and Development (SEED) Programme amounted to R27.7 million, which was invested in a number of initiatives ranging from bursaries for tertiary education to development projects that have enabled beneficiaries to become self-sufficient.

The Summarised Annual Review of Activities and Audited Financial Statements for 2017/2018 (1438/1439) can be viewed on www.sanzaf.org.za/about-us/audit-reports-downloads/54-summarised-annual-review-of-activities-and-annual-financial-statements-2018/file.html and the Audited Annual Financial Statements can be viewed on www.sanzaf.org.za/about-us/audit-reports-downloads/55-audited-annual-financial-statements-2018/file.html

For more information on SANZAF projects and programmes, follow us on Twitter @SANZAFSA and Instagram @sanzaf_official, like us on Facebook or visit our website at www.sanzaf.org.za

Media enquiries: Contact Sakeena Bock or Nurene Jassiem on 083 676 3979 / 021 447 0297 or email at: communications@sanzaf.org.za

Download Full Article here pdf SANZAF 2018 Audited Annual Financial Statements Release Announcement (275 KB)