The State Bank of Pakistan (SBP) has notified the types of bank accounts from which Zakat will be deducted for the year 2025. This directive ensures compliance with the national regulations governing Zakat collection and distribution.
As per the latest instructions issued by the SBP, all banks and financial institutions are required to deduct Zakat from designated account types. These include savings bank accounts, profit and loss sharing accounts, and other similar deposit accounts. The deduction will only be applicable to accounts maintaining a credit balance of at least Rs 179,689 as of the specified cut-off date.
The government had earlier announced the Nisab of Zakat for the Zakat Year 1445-46 AH, setting it at Rs 179,689. This threshold determines the minimum balance required in an account for Zakat deduction to be applicable. The deduction will be carried out on the first day of Ramadan, in accordance with the notification issued by the Ministry of Poverty Alleviation and Social Safety.
In line with the official directive, all financial institutions have been duly informed about the process of Zakat deduction at source. The Administrator General Zakat has reiterated that the Nisab remains fixed at Rs 179,689 (Rupees One Hundred Seventy-Nine Thousand Six Hundred Eighty-Nine only), and the deduction will be implemented accordingly. This initiative is part of the broader framework to ensure Zakat is collected and distributed fairly to those in need.
Importantly, no Zakat deduction will be applied to accounts with balances below the prescribed Nisab on the first day of Ramadan-ul-Mubarak 1446 AH. This specific date, designated as the “Deduction Date,” falls on March 3, 2025. Account holders who do not wish to have Zakat deducted from their accounts must submit an exemption declaration before the deadline, as per the relevant banking regulations.
To facilitate the smooth execution of this policy, the SBP has declared March 3, 2025, a bank holiday. On this day, all banking operations related to public transactions will be suspended to allow financial institutions to carry out the Zakat deduction process efficiently. This measure underscores the importance of Zakat in Islamic financial principles, ensuring that eligible funds are collected for charitable and social welfare purposes.
