Converting the Nisab of Professional Income Zakat from Gold to Silver Due to Rising Gold Prices

تحويل نصاب زكاة الدخل المهني من الذهب إلى الفضة بسبب ارتفاع سعر الذهب

Abstract

This study examines the ruling on converting the nisab of professional income zakat from the gold standard to the silver standard amid the continuous rise in gold prices, using the framework of Maqasid al-Shariah and Maslahah Mursalah. The study is based on the premise that professional income zakat is a product of contemporary ijtihad established through qiyas (analogical reasoning), making it open to further reconsideration when economic and social circumstances change. The research employs a descriptive-analytical approach while drawing upon the principles of Islamic legal theory and the objectives of Islamic law. The study finds that the significant increase in gold prices has substantially raised the nisab threshold for professional income zakat. This may reduce the number of zakat payers and the amount of zakat collected, thereby limiting the social and economic role of zakat in poverty alleviation and wealth redistribution. The study further argues that adopting the silver nisab, or other alternative ijtihadi approaches, may be considered a valid legal option if it better fulfills the objectives of Shariah and serves a greater public interest, provided that it remains within the boundaries of Islamic legal principles. The study concludes that maqasid-based ijtihad remains an essential instrument for addressing contemporary economic issues while maintaining a balance between the authenticity of Islamic law and the evolving needs of society.