Q: Do I still have to pay zakāh on my frozen pension fund? I have a pension which is now frozen where I have selected the funds. The pension is invested in shares. Both myself and my employer had contributed to the pension. The pension has made a profit. Can you please confirm the following: […]
Read more...Category: Zakatable Assets Fatawa
Is zakah payable on the value of on account payments for a person who has an Islamic Home Purchase Plans?
Q: Is zakāh payable on the value of on account payments for a person who has an Islamic Home Purchase Plans? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Ownership of the on account payments, both under the Ijarah home purchase plan and the Diminishing Musharakah home purchase plan, remains vested in the […]
Read more...For zakat purposes, how might we interpret ‘fi sabeelillah’ in the modern context?
Q: How might we interpret fi sabeelillah in the modern context? Could this include campaigning or advocacy activities – for example, raising awareness about Islamic teachings on poverty issues, dispelling misperceptions about Islam, speaking out on international justice issues etc. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Whilst the literal meaning of fi sabilillah […]
Read more...How can I subtract oustanding debts from my zakatable assets when the exact amount is unknown?
Q: I would like to find out what I should do in a situation where in I owe money to a few organisations but I don’t know how much as I owe this money was due years ago, do I take a rough calculation and subtract it from the nisab? الجواب حامدا ومصليا ومسلما ومنه […]
Read more...Q: Is the responsibility of Zakat a strictly individual responsibility or can it be joint say in the case of husbands and wives?
Q: Is the responsibility of Zakat a strictly individual responsibility or can it be joint say in the case of husbands and wives? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakat is strictly a personal obligation. Even in jointly owned wealth the obligation of zakat remains personal. Thus, if a husband and […]
Read more...What is the Shari’ah position with regards to zakah on Diminishing Musharaka home purchase plans?
Q: What is the Shari’ah position with regards to zakāh on Diminishing Musharaka home purchase plans? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Under the Diminishing Musharakah home purchase plan, the client again incurs a debt only to the extent of the outstanding monthly rental payments subsequent to his use of the […]
Read more...Do I have to pay zakah on a loan that won’t be repaid to me?
Q: Do I have to pay zakāh on a loan that won’t be repaid to me? If a lender has lost all hope of recovering his loan how should he treat the outstanding amount for the purposes of zakāh? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: If a lender has lost all […]
Read more...Do students have to pay zakah on money from a student loan, if they have it in their possession?
Q: Do students have to pay zakāh on money from a student loan, if they have it in their possession? For e.g. a person took out tuition fee loan and maintenance loan (not grant) which roughly comes to about £6000. From that, £3000 is automatically taken by the university i.e. tuition fee which leaves a […]
Read more...Do I have to pay zakah on money held for a minor?
Q: I gifted my son £1,000 and hold this in an account in my son’s name. However prior to his 18th birthday he is not able to access that money without my consent. In this instance is he liable for zakāh? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: This would be considered […]
Read more...Is a HMRC tax deposit Zakatable?
Q: I have a question regarding the calculation of my zakat liability. My money has been deposited with HMRC to pay for outstanding tax liabilities. In theory I could still withdraw that money before 2019, but in this case interest would accrue and I would have to pay it all back in 2019 regardless. The […]
Read more...Is zakat due on an amount of money I only came to possess 11 days before my zakat anniversary?
Q: Is zakat due on an amount of money I only came to possess 11 days before my zakat anniversary, and which is going to be used to buy a house (and therefore not “surplus” wealth)? الجواب حامدا ومصليا ومنه الصدق والصواب A: Once one becomes owner of the nisab one’s lunar year commences. Any […]
Read more...Does a woman have to sell her gold in order to pay zakat?
Q: Does a woman have to pay zakat on her gold even if her and her husband do not have enough cash over the nisab? i.e. does she have to sell some gold and pay separately? الجواب حامدا ومصليا ومنه الصدق والصواب A: If the gold, individually or in conjunction with other zakatable assets from […]
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