Question
I have invested in Al Mabroor company which is in dire financial straits. The company has been placed un- der „rescue‟ by the court. How should I calculate my Zakaat on my share-holding?
Answer
Zakaat is paid on Zakaat assets (cash, gold, silver and stock-in-trade). Zakaat is not paid on shares. Shares are worthless. Shares are haraam. Zakaat is not paid on haraam imaginary wealth. While Zakaat is paid on toilet rolls if procured for selling, Zakaat is not payable on shares.
Brace yourself for total loss. The company may not survive. The day you receive cash from the company, pay Zakaat on that amount. Zakaat is not paid on capital investment.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 11
- PDF page
- 11
Verbatim verified against the source PDF
Appears under A NEW HYBRID SHIAH-INTERFAITH ‘QUR’AAN’. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.