The government of Pakistan has announced the minimum amount of money in bank accounts that will be subject to Zakat deduction this year (2024). This amount is called Nisab and has been set at Rs. 135,179.
Zakat is a religious obligation for Muslims to donate a certain portion of their wealth to charity.
If your bank account balance is above Rs. 135,179 on the first day of Ramadan (estimated to be March 12th, depending on the moon sighting), Zakat will be automatically deducted from your account.
This deduction only applies to savings accounts and profit and loss sharing accounts.
If your balance is below Rs. 135,179, you are not required to pay Zakat on your bank account this year.