129 fatwas

  • Zakat on pension plans Date: 1-12-2004

    The pension plan in theUS under what is know as (401K), is a deduction of one's pay check that goes directly toward selected stocks, where the money is invested on ongoing basis until the age of retirement. During that time, of course there are accumulations on yearly basis. Of course as an investment this saving is subject to gains.. More

  • Calculating Zakat on funds Date: 28-10-2004

    I have Nani (mom's mom), non-working Mamu (70% mentally retired), non-working Khala (not divorced by left over by husband who is in Karachi), she is also suffering from mental disorder 50% about mentally retired and mamu's working daughter 23-years-old. Their monthly earning is my nana before expiring left a piece of land which my nani.. More

  • Zakat on land and gold Date: 21-10-2004

    I have 2 questions regarding calculating of Zakaat: 1) The land which I have for the purpose of building a house should there be Zakaat on that because last year I deducted the balance of loan amount taken to buy the plot. 2) Is it the total weight of the gold to be calculated for Zakaat or the total weight minus the Nisaab weight.. More

  • Father refuses to pay Zakah Date: 7-7-2004

    My father has some money in a bank in one of the Arab countries. He gets interest on the account and does not pay Zakahon this money. We try to advise him to pay the Zakah but he says that the money is not his and it belongs to us (his children). We have no access to the money as the account is still in my father's name. The question is can.. More

  • Paying Zakah on insurance settlement Date: 1-7-2004

    My mum received a compensation of RM15,500 (USD 1 = RM3.80) recently for her accident insurance claim. She received one year later from the date of accident. Since the person who hit her, paid the premium to conventional insurance, so I had asked my mum to pay cash Zakah in order to purify the money and to get God's blessing. I asked my mum to pay.. More

  • Zakah on mutual funds Date: 21-6-2004

    How do you calculate the Zakah of mutual funds?.. More

  • Calculating his Zakah Date: 25-5-2004

    I started my business in February, 2004, investing a sun of half million Rupees, and probably it was Islamic month of Zul Hall. Do I have to pay Zakah on my money in Ramadan, or after one year passes? How should I calculate the Zakah at the end of the year, the whole capital plus the money that I have at that moment in my hand? What about credit.. More

  • Paying Zakah for business which has credit transactions Date: 11-5-2004

    I run my business and there is always some amount that has been given on credit and likewise I've taken some thing on credit, How should I pay the Zakah? Should I take all liabities and other things in account before deducting the Zakah? And can I also give Zakah in portions or should I take it out at one time... More

  • How to pay Zakah Date: 10-4-2004

    Is it mentioned anywhere in the Holy Qur’an or Sunnah that the Zakah must be paid once a year after calculating certain things. If ‘yes’ please quote the reference.If ‘no,’please explain how it should be calculated, whether daily, monthly, or yearly basis... More

  • Zakah on child’s money before age 15 Date: 19-2-2004

    Is it permissible two wear a silk tie? Is a child's money considered for the Zakah before he is 15 years old?.. More

  • Paying Zakaah on Provident Fund Date: 14-9-2003

    I am working in a multinational company and company holds 10% amount from my salary and add 10% amount from company's part and place this amount in Provident Fund account. This amount adds up every month and remains with the company till leaving company or getting provident fund for urgent needs like home purchase or hospitalization uses. Is there Zakah.. More

  • No Zakah on plots for self-use Date: 13-9-2003

    I have purchased two plots. What is rule for paying Zakah on these plots? Should I pay Zakah on these plots or not? Initially I was paying Zakah on these plots but now I have discontinued it as I read that there is no Zakah on plots if plots purchased for self-use and not with the intention of selling? What happened if I change my mind and sell these.. More

  • Paying Zakah on money every year Date: 1-4-2003

    Is there any proof in Qur'an or Sunnah for paying Zakah every year in the same amount, i.e. I take Zakah 2500 from one lakh this year. If I keep the same amount, is it necessary to pay Zakah in the coming years too?Somebody says it is enough to pay Zakah once in life for the said same amount... More

  • How to pay Zakah Date: 5-2-2003

    How is the Zakat calculated on the following:Cash in banks,house for personal use, house for rent, house can be rented or for personal use, land bought for building another house, land bought for summer holiday, land for trade, personal belongings, shares investments.Can I consider the monthly payment for my brothers' family/children as partial payment.. More

  • How to Pay Zakah Date: 20-1-2003

    I live in a non-Muslim country, My husband has small business, and he has debts to the bank.I’m working, and I hardly manage hardly the expenses of the family.We are building a house now with my parents help1.Must I pay zakat ? Is it better to pay zakat monthly or yearly?2.Must I pay zakat on money that I saved a few years for something (like education.. More