Re: Zakat on Diamonds.
There is no zakaat on capital or capital gain. Its only on the personal savings. A money at work in a business is not considered personal saving and has no zakaat. But if you let the money sit for a year outside of the business and personal usage, you will need to pay the zakaat.
Diamonds as jewelery has no zakat .. if you have a diamnd business then yes you have to pay zakat ..
As you cannot wear all your dimaonds all the time .. some of them are always giong to be part of your saving .. but they are stll diamonds .. so no zakat on them either..
also if you put some diamonds or even gold and silver aside for your kids .. and if they are not 18 .. no zakat on that either