And Allah the Exalted said (in Surah Bara’ah):“Those who hoard gold and silver and do not spend it in the way of Allah...”up to the end of the verse «فذوقوا ما كنتم تكنزون‏» . That is,“Taste the punishment of hoarding your wealth.”

Narrated Abu Huraira: The Prophet said, "(On the Day of Resurrection) camels will come to their owner in the best state of health they have ever had (in the world), and if he had not paid their Zakat (in the world) then they would tread him with their feet; and similarly, sheep will come to their owner in the best state of health they have ever had in the world, and if he had not paid their Zakat, then they would tread him with their hooves and would butt him with their horns." The Prophet added, "One of their rights is that they should be milked while water is kept in front of them." The Prophet added, "I do not want anyone of you to come to me on the Day of Resurrection, carrying over his neck a sheep that will be bleating. Such a person will (then) say, 'O Muhammad! (please intercede for me,) I will say to him. 'I can't help you, for I conveyed Allah's Message to you.' Similarly, I do not want anyone of you to come to me carrying over his neck a camel that will be grunting. Such a person (then) will say "O Muhammad! (please intercede for me)." I will say to him, "I can't help you for I conveyed Allah's message to you."

Narrated Abu Huraira: Allah's Apostle said, "Whoever is made wealthy by Allah and does not pay the Zakat of his wealth, then on the Day of Resurrection his wealth will be made like a baldheaded poisonous male snake with two black spots over the eyes. The snake will encircle his neck and bite his cheeks and say, 'I am your wealth, I am your treasure.' " Then the Prophet recited the holy verses:-- 'Let not those who withhold . . .' (to the end of the verse). (3.180).

Because the Prophet ( صلی اللہ علیہ وسلم ) said that there is no zakat in silver less than five awqiyah.

Narrated Khalid bin Aslam: We went out with 'Abdullah bin 'Umar and bedouin said (to 'Abdullah), "Tell me about Allah's saying: "And those who hoard up gold and silver (Al-Kanz - money, gold, silver etc., the Zakat of which has not been paid) and spend it out in the Way of Allah (V.9:34)." Ibn 'Umar said, "Whoever hoarded them and did not pay the Zakat thereof, then woe to him. But these holy Verses were revealed before the Verses of Zakat. So when the Verses of Zakat were revealed Allah made Zakat a purifier of the property."

Narrated Abu Sa`id: Allah's Apostle (p.b.u.h) said, "No Zakat is due on property mounting to less than five Uqiyas (of silver), and no Zakat is due on less than five camels, and there is no Zakat on less than five Wasqs." (A Wasqs equals 60 Sa's) & (1 Sa=3 K gms App.)

Narrated Zaid bin Wahab: I passed by a place called Ar-Rabadha and by chance I met Abu Dhar and asked him, "What has brought you to this place?" He said, "I was in Sham and differed with Muawiya on the meaning of (the following verses of the Qur'an): 'They who hoard up gold and silver and spend them not in the way of Allah.' (9.34). Muawiya said, 'This verse is revealed regarding the people of the scriptures." I said, It was revealed regarding us and also the people of the scriptures." So we had a quarrel and Mu'awiya sent a complaint against me to `Uthman. `Uthman wrote to me to come to Medina, and I came to Medina. Many people came to me as if they had not seen me before. So I told this to `Uthman who said to me, "You may depart and live nearby if you wish." That was the reason for my being here for even if an Ethiopian had been nominated as my ruler, I would have obeyed him .

Narrated Al-Ahnaf bin Qais: While I was sitting with some people from Quraish, a man with very rough hair, clothes, and appearance came and stood in front of us, greeted us and said, "Inform those who hoard wealth, that a stone will be heated in the Hell-fire and will be put on the nipples of their breasts till it comes out from the bones of their shoulders and then put on the bones of their shoulders till it comes through the nipples of their breasts the stone will be moving and hitting." After saying that, the person retreated and sat by the side of the pillar, I followed him and sat beside him, and I did not know who he was. I said to him, "I think the people disliked what you had said."

He said, "These people do not understand anything, although my friend told me." I asked, "Who is your friend?" He said, "The Prophet said (to me), 'O Abu Dhar! Do you see the mountain of Uhud?' And on that I (Abu Dhar) started looking towards the sun to judge how much remained of the day as I thought that Allah's Apostle wanted to send me to do something for him and I said, 'Yes!' He said, 'I do not love to have gold equal to the mountain of Uhud unless I spend it all (in Allah's cause) except three Dinars (pounds). These people do not understand and collect worldly wealth. No, by Allah, Neither I ask them for worldly benefits nor am I in need of their religious advice till I meet Allah, The Honorable, The Majestic." '

Narrated Ibn Mas`ud: I heard the Prophet saying, "There is no envy except in two: a person whom Allah has given wealth and he spends it in the right way, and a person whom Allah has given wisdom (i.e. religious knowledge) and he gives his decisions accordingly and teaches it to the others."