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al Ihsan Times

Ramadan Focus

N.B. Rulings are given in accordance with the Hanafi school of thought

Fatwa - Calculation of Zakaat

Q: I operate a business from home and am not sure how to calculate my zakaat on my stock? Pleasezakaat advise me.

A:

Zakaat is payable on the market value of the stock that you have purchased for the sole purpose of resale. In order to determine this value, you could assess what you would be to sell all these goods for if you were to sell them to one person in one transaction. This would be the value on which you should pay Zakaat.

Mufti Shafiq Jakhura
Iftaa Department, Darul Ihsan Islamic Services Centre

 

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