Al-Qurtubī said: “In its original linguistic sense, kanz (treasure) means to gather things together and amass them.”

Lessons drawn from the two hadiths
The two reports establish that zakah is obligatory on jewelry kept for personal use, whether the amount is small or large. The two bangles were gold and the awdaḥ were silver, yet neither reached the zakah nisab for gold and silver coins. The issue, however, is disputed; what follows is a detailed outline of that disagreement.

Scholarly consensus
All scholars agree that zakah is due on gold and silver—whether in the form of coins, jewelry, nuggets, or anything else—except when the jewelry is specifically prepared for wearing or for lending.

Point of contention
They differed with regard to gold and silver jewelry set aside for use or for lending. Imām Abū Ḥanīfah and his school held that zakah remains obligatory on it. The same opinion is authentically reported from several of the Successors, among them ʿAṭāʾ, Saʿīd ibn Jubayr, Mujāhid, and al-Nakhaʿī.

The majority—inclusive of Companions, Successors, the leading imams, and their followers—maintain that no zakah is due on such jewelry. Companions who explicitly held this view include Ibn ʿUmar, Anas, Jābir ibn ʿAbd Allāh, ʿĀʾishah, and Asmāʾ bint Abī Bakr; no contrary opinion is reported from any other Companion, including the Rightly Guided Caliphs who supervised the collection of zakah. Among the Successors who adopted the same stance are Saʿīd ibn al-Musayyab, al-Ḥasan al-Baṣrī, Qatādah, Ṭāwūs, and ʿAmrah bint Saʿd al-Anṣāriyyah. This is likewise the position of the other three imams and the eminent scholars who follow them.

Arguments of those who obligate zakah
Those who obligate it appeal to the verse, “And those who hoard up gold and silver and do not spend it in Allah’s path…” (Q 9:34), and to the hadith in Ṣaḥīḥ Muslim (987) narrated by Abū Hurayrah, in which the Prophet ﷺ said: “No owner of—"