Since stocks and shares are a form of wealth, zakat is payable on them. Broadly speaking, there are two types of zakat that investors should be aware of (but this does not mean investors have to pay zakat twice – investors pay one type of zakat or the other): 1. Zakat on ‘capital gains’ stock. 2. Zakat on ‘income stocks’. 1. Capital The Fiqh of Corporate Zakat for Islamic Banks. As the Islamic banks are governed under Syari’ah law, Islamic banks are also compulsory to pay zakat. The strong approval by the National Fatwa Committee decided in the 31st meeting of the National Fatwa Committee held on 9 December 1992 had ruled out a company to pay zakat compulsorily when it fulfils the following conditions: (1) the company The same rules above apply to any property you may have inherited. With the above points, if the properties are on the market for sale, when you calculating your Zakat, and it has not been sold yet, and you are unable to pay the full amount (as you do not have the cash), then you must pay the Zakat once as soon as it is sold. (Imam Malik) Above all, it is important to factor in who is eligible to receive Zakat. This forms part of the validity of your Zakat donation. Zakat is not a form of Sadaqah (voluntary charity). Unlike Zakat, anyone in need can receive Sadaqah at any time. Zakat is an obligatory form of charity. Every Muslim who meets the eligibility criterion must pay Zakat. Verified Zakat campaigns. Providing authentic Zakat campaigns is our first priority. We take this responsibility very seriously and each Zakat campaign is individually verified by a Zakat expert following our Zakat policy. If you have questions or concerns about the Zakat eligibility of a campaign or just want to say Salam, reach out to our A large number of Muslims prefer to pay their zakat specifically during the Holy month of Ramadan due to the sheer amount of rewards and blessings for those who give to charity during the auspicious month. However, it is not an option to delay zakat submission if your zakat becomes due before the month of Ramadan. “Zakat is payable on gold He Himself revealed in the Quran the eight categories of eligible recipients of Zakat distribution: The poor ( Al-Fuqarâ’) The indigent ( Al-Masâkîn) Zakât workers. Those with hearts to be reconciled. Those in bondage (slaves and captives) The debt-ridden. In the cause of God. After that pay fixed 2.5 Percent of the value as Zakat. Total Assets in possession for one year; Exclude all liabilities or amount payable; Extract 2.5 percent of total value after amount payable and pay Zakat; Who are eligible for Zakat? The fundamental purpose of Zakat is to help the needy ones. It also plays a major role in uplifting the 4. pay zakat in the same place where one’s wealth resides. Fourthly, one must pay zakat in the same place where one’s wealth resides, in case the local indigent residents are expectant of help. Though if one transfers wealth to another city, what is more important is that the obligation of zakat is accomplished. 5. Apart from one’s ascendants (parents, grandparents and great grandparents etc.) and descendants (children, grandchildren and great grandchildren etc.), it is permissible to give zakat money to other relatives, provided that they are eligible to receive zakat. Hence, if one’s brothers, sisters, maternal/paternal uncles and aunts and their Sf5TI8O.