This entry is part 37 of 37 in the series Zakaat MasaailA: If the debtor blankly denies owing the creditor and there is no way to retrieve the money, then zakaat will not be waajib upon the debt. However, if he is unable to pay it due to financial constraints and wishes respite, then zakaat [...]
This entry is part 36 of 37 in the series Zakaat MasaailA: Since the raw material was purchased with the intention of manufacturing products to be sold, zakaat will be waajib. (أو نية التجارة ) في العروض إما صريحا ولا بد من مقارنتها لعقد التجارة كما سيجيء أو دلالة بأن يشتري عينا بعرض التجارة (شامي [...]
This entry is part 35 of 37 in the series Zakaat MasaailA: Zakaat is waajib upon the medication which the doctor administers to his patients or dispenses to them. (أو نية التجارة ) في العروض إما صريحا ولا بد من مقارنتها لعقد التجارة كما سيجيء أو دلالة بأن يشتري عينا بعرض التجارة (شامي 2/267) Answered [...]
Q: I own a textile mill. I first import the yarn from which the material is manufactured. I supply certain companies material at the manufacturing cost plus ten percent profit. I also wholesale fabric at the wholesale price which is approximately my cost plus twenty percent. I am also a retailer and supply the public at the retail price. When calculating my zakaat, which market am I obligated to take into consideration? Should I evaluate my wealth in accordance to the retailer’s market, wholesaler’s market, or the manufacturer’s market?
This entry is part 34 of 37 in the series Zakaat MasaailA: Since you have purchased the yarn with the intention of trade, zakaat is waajib on it. Zakaat will be paid upon the market value of the yarn at the time when discharging the zakaat. Similarly zakaat is waajib upon the market value of [...]
This entry is part 33 of 37 in the series Zakaat MasaailA: Zakaat is Waajib on shares. However, it should be noted that Zakaat is not Waajib on the entire share. Rather Zakaat is only Waajib upon the Zakaatable assets of the company (i.e. the market value of the merchandise contained in the share of [...]