Jamiatul Ulama KZN

Interest based savings account (2/2)

· 18 Rajab 1436 AH1 min readEnglish

Question

If a person keeps a residential plot with no defined intention whether it could be used for living in future by himself/family or whether to be sold at a good price if need arises; will zakaat be payable on such property?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

If a person purchased a land with no defined intention, it is not considered as stock in trade. Zakaat is not payable on such property.[1]

And Allah Ta’āla Knows Best

Answered by
Mufti Ismail Desai
Checked & approved by
Mufti Ebrahim Desai
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Source: Jamiatul Ulama KZN — https://jamiat.org.za/interest-based-savings-account/
Fatawa SA: https://fatawa.co.za/fatwa/jamiat-16181-2

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