Is zakat obligatory immediately upon the money reaching the nisab for the first time, or must one wait for a full year to pass on it?

One of the conditions for zakat to be obligatory is the completion of a full lunar year (hawl). Therefore, whoever acquires wealth does not owe zakat on it until a year has passed over it. Accordingly, zakat is not obligatory on wealth unless it reaches the نصاب (minimum threshold) and a year has passed over it from the time it reached the نصاب. The نصاب for banknotes is the equivalent of 85 grams of gold or 595 grams of silver. The amount of zakat that must be paid is a quarter of a tenth (2.5%).