Hawkesbay Investment Corporation Limited The business is in conformity with standards and in line with normal corporate ethics. Based on the loans agreement drafted by our client and we guarantee that our client will only enter into a legitimate business transaction as proposed with the funds. Legal & General Insurance company hereby guarantee the safety […]
Read more...Category: Miscellaneous
Do I have to pay zakat on my saveshare’s contribution?
Q: I work for BT and I am part of their saveshare scheme. I put in £50 every month from my wage towards the saveshare. The money is held by BT for 3 or 5 years. I do not have access to this money during the 3 or 5 years. Do I have to pay zakat on […]
Read more...How does the proposed Shari’ah compliant student finance Takaful model work?
The proposed Takaful model is based on the principle of mutual co-operation and guarantee. Whilst a conventional loan contract requires the applicant to pay interest on the amount borrowed, the Takaful contract requires the applicant to make a unilateral promise to make future charitable donations in exchange for the Takaful fund paying for the applicants […]
Read more...Is a mentally disabled person exempt from paying zakat?
Q: I have a query regarding whether my mother has to pay zakah on her wealth. My mother has been diagnosed with vascular dementia and the assessments by mental health professionals have concluded that she lacks mental capacity to manage her personal and financial affairs. I have applied and have been successful in being granted the […]
Read more...Can we deduct the deposit due (e.g. for purchase of a house) and stamp duty from zakat calculation?
Q: 1. Before the start of Ramadhan, we agreed on the purchase of a house from Al-Rayan Bank. The property price has already been agreed and the solicitors are already involved with paperwork Insha’Allah to go through soon. I have money in my bank account but of course I am also liable to pay to the […]
Read more...What do we do if the nisab rate fluctuates before our zakat anniversary date?
Q: A year ago, I passed the nisab and I took note of the date and nisab amount. Before my zakah due date, I fell below that recorded nisab, but by then the current nisab had also fallen below what I possesed (so I have less than the nisab of the very first day I became […]
Read more...Can Zakat ul Fitr only be distributed in the form of food?
Q: Is it permissible for Zakat ul Fitr to be given in the form of cash or new clothes, or must it be spent on food? الجواب حامدا ومصليا ومنه الصدق والصواب A: Zakatul Fitr can be given in the form of cash or new clothes and does not have to be spent on food. […]
Read more...Is it permissible to pay more than 2.5% in zakat?
Q: I understand that the zakah is 2.5% of assets but if one has more than that to pay and is able and willing, can they do that? Or does it have to be exactly 2.5%, no less or more? الجواب حامدا ومصليا ومنه الصدق والصواب A: One can pay more than the 2.5% that […]
Read more...Is it necessary for Zakat to be allocated and spent within 1 year of receiving the donation?
Q: What is the time-period for dispensing Zakat? Is it necessary for Zakat to be allocated and spent within 1 year of receiving the donation? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakat should be distributed as soon as possible. If there are procedural delays in the PROPER discharge of zakat which includes proprietary […]
Read more...Is one regarded as sinful for delaying the paying of zakat to such an extent that a year passes?
Q: My zakat is calculated yearly on 16th Sha’ban. This year for example, it was £500. My habit is to split the £500 into 11 monthly payments. My aim is to pay the zakat £500 before the next years Sha’ban. However, sometimes I budget and maybe miss a few months. Thus for example by 16th […]
Read more...How should Islamic charities balance the obligation to give Zakat to local people in need versus giving Zakat to people in need internationally?
Q: How should Islamic charities balance the obligation to give Zakat to local people in need (i.e. in the same countries as their donors) versus giving Zakat to people in need internationally? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: There are several competing reasons as to how and where we should pay our zakat. […]
Read more...Is it permissible for an Islamic charity to give Zakat funds to individual beneficiaries in the form of goods rather than cash?
Q: Is it permissible for an Islamic charity to give Zakat funds to individual beneficiaries in the form of goods (rather than cash)? This could include livelihood equipment, such as sewing machines, farming equipment, livestock; medication or medical treatments; school books; education or training courses; paying salaries of service providers (e.g. teachers or doctors). الجواب […]
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