What is the monetary compensation of fasting? What is the fidya in islam?
The fidya is the financial compensation paid for every obligatory fast that has not been carried out during Ramadan and could not be made up before the following year’s Ramadan by those who are unable to fast. Payment of fidya as a compensation for fasting has been established with the following verse, … And upon those who are able [ to fast, but with hardship] – they must give a ransom [as substitute]of feeding a poor person [ each day]?”
One fidya is certain food stuff in the weight of one mud (approximately 687 grams) given to the poor as a compensation for each day that a person could not fast in the month of Ramadan.
The Reasons of Monetary Redemption (Fidya):
1- To be too old or to be too ill to fast and have no hope of recovery: It is obligatory to pay redemption upon those who are too old to fast or too ill and have no hope of recovery to make up the missed days.
2- If pregnant and nursing women fear that their children might be hurt because of their fasting: In such situations, women should not only make up the missed days but also pay redemption.
3- It is obligatory upon those who neglect and do not make up their missed days until the subsequent Ramadan: According to the majority of scholars except the Hanafis, under such situations one is required both to pay redemption and to make up their missed days. Because such people violate the honor of Ramadan.
One should make up the missed days of Ramadan before the subsequent Ramadan. If somebody delays making up the fasting days from a previous Ramadan until the subsequent Ramadan has begun, he must pay a redemption, in addition to making up the days missed. The redemption required in this context is to give one mudd to the needy person, which is equal to two handfuls of grain, which is about 543 gr, of the most consumed food items of the region, such as wheat, barley, rice etc.
The redemption must be paid again for every year that passes without the fasting days being made up. The redemption payment for more than one day can be given to one person or it can be distributed among a couple of people.
The redemption is only required if the person concerned was capable of making up the days missed before the subsequent Ramadan began, but failed to do so; if he was not capable of doing so due to justifications such as illness, menstruation, postpartum bleeding, insanity, etc., no redemption is required from him.
 Al-Baqara, 2: 184.