Recent Posts

July, 2011

  • 20 July

    Zakaat on Bad Debts

    Q: What is the shar’iee ruling regarding a debt that is owed to a person who has no hope of receiving the money? A: If the debtor blankly denies owing the creditor and there is no way to retrieve the money, then zakaat will not be fardh upon the debt. …

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  • 20 July

    Offsetting a debt with the intention of zakaat

    Q: Will zakaat be discharged by offsetting a debt with the intention of zakaat? A: The zakaat will not be discharged by merely offsetting a debt with the intention of zakaat. However, if one wishes to discharge his zakaat through the debt owed to him, then he should give the …

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  • 20 July

    Zakaat on Properties, Flats, etc.

    Q: Is zakaat fardh on properties, flats, etc? A: Zakaat is not fardh on properties, etc. which are not purchased with the intention of resale. One will pay zakaat on the rent received. However, if the properties were purchased with the intention of resale, then zakaat will be fardh on …

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  • 20 July

    Zakaat on Shares

    Q: Is zakaat fardh on shares? If yes, then how will it be calculated? A: Zakaat is fardh on shares. However, it should be noted that Zakaat is not fardh on the entire share. Rather Zakaat is only fardh upon the Zakaatable assets of the company (i.e. the market value …

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  • 20 July

    Value of zakaatable goods

    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 …

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