ISLAMABAD: State Bank of Pakistan (SBP) on Thursday announced the curriculum for Zakat reduction on saving accounts for current year, ARY News reported.
According to spokesman of central bank, Khubaib Usmani, the Zakat Nisaab for this year will be Rs. 38,810 as compare to Rs. 41,872 last year.
Zakat Nisab will be imposed on all the saving accounts opened in different branches countrywide, SBP Spokesman revealed.
Hence, 2.5 per cent will be deducted from the saving accounts having amount equal or greater than Rs. 38,810 on 1st Ramadhan. All commercial banks will remain closed for public dealing on the date for the Zakat deduction.
There will be no Zakat deduction for current and salary accounts.