Question

Zakah on investments

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Question

I am 19 years old. I have funds in four American medical companies in US. I can not manage my funds until I reach 21 . Therefore, my father pays the Zakah on these funds until I reach 21. Is this allowed in Islam? Are the profits to be included in the Zakah or not?

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Accepted Answer

Praise be to Allah, the Lord of the Worlds, and blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions. If your father had paid the Zakah of your money then you do not have to pay Zakah according to the view of SHARIAH. The Profit should be added to its capital, i.e. you should calculate your capital and your profit and pay the Zakah for the total amount. May Allah bless on you and help you in all your affairs. Allah knows best.

Fatwa

Zakah on investments

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Related Fatwa

Interested in Investing in Doubtful Stock Market

The Zakah of shares depends upon your intention in sharing

Zakah of shares is based on their kind

Zakah of shares intended for the utilization of their revenues

Zakah on deposited funds

Zakah on shares bought for the purpose of benefitting from their revenue

Zakah on a restricted investment deposit in an Islamic bank

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