Mufti Online — Madrasah Ta'leemuddeen

Calculating zakaat on investments

· 23 Muharram 1438 AH1 min readEnglish

Question

I have an approximate amount of 2.6 million in an investment with Al Baraka bank,with a monthly return plan. Do I need to give zakaat on it? If so, how much and how do I calculate?

Answer

Yes. We suggest that you find out how are they investing your money. If they give you some clear facts you will know the extent of the zakaatable assets and that which is not zakaatable.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/16547
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-16547

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