RE: LeoThread 2025-08-14 09:32

Having my Assets in $LEO for long term makes me think about how to pay Zakat on them.

Fun Fact: Zakat is obligatory charity for Muslims. We Muslims are required to pay 2.5% of our wealth if it meets two conditions:

• It surpasses a certain threshold.
• It stays above the threshold for more than 1 Lunar year.

The wealth that counts in this is of various types, but most common are:

• Savings in Gold/Silver or it's equivalent in Cash.
• All assets intended for Selling. (The house you live in doesn't count, but the house you own that you intend to sell or you're renting out does count.)

The threshold is 85 grams of gold or it's equivalent in the assets. For money, current threshold is around $9000~ and I never reached it in my life. At least, not long enough to last months, not mentioning a year...

So, only recently I started thinking about paying Zakat once/if I become wealthy enough.