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The question

Is zakat obligatory on diamonds? What is the wisdom behind not obligating it on other precious stones, which may exceed gold and silver in value, even though some scholars are of the opinion that zakat is not obligatory on jewelry and precious stones except for gold and silver?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

Diamonds and precious stones are not subject to if they are for adornment or saving, not for trade, because Zakat is obligatory on growing wealth. Gold and silver jewelry are not subject to Zakat, according to the majority of scholars, if they are for personal use only. However, if they are for trade or saving, Zakat becomes obligatory on them under certain conditions.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
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Ftawy
Original fatwa ID
54983
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy