The Ministry of Poverty Alleviation and Social Security has said banks will deduct Zakat for 1444-45 Hijri from accounts holding a minimum balance of Rs135, 179 on the first day of Ramadan this year. Announcing the Nisab for Zakat in 2024, the ministry said Zakat will be applicable on the savings accounts/ profit and loss sharing (PLS) accounts having balance of Rs135,179 or more. Hence, the customers fulfilling the criteria would be liable to pay 2.5% in terms of Zakat on their total amount in the account. Accounts with balance less than Rs135,179 on the 1st of Ramadan will be exempted from Zakat deduction, read the notification issued by the ministry. The ministry has said under the Zakat and Ushr Ordinance 1980, no Zakat would be deducted in case a bank account has a lesser amount than the value announced by the ministry. “All the Zakat Collection Controlling Agencies (ZCCAs) are requested to deduct the Zakat accordingly,” it said. The first of Ramadan is expected to fall on March 12, this year, subject to the appearance of the moon. To be liable for Zakat – which is one of the five pillars of Islam – one’s wealth must amount to more than a threshold figure, termed the “Nisab”.