Islam, Islamic, Islamic News, Fatwa's and Islamic Business/Finance with Islam Online


Last Modified:  27 Aug 2011 08:29  GMT

I work for a company that gives its employees stock options as part of their annual bonus. Some of these stock options are now vested (i.e. exercisable) but I have not sold them, since I am waiting for the price to go up, Allah willing. I would like to know if I have to pay Zakâh on these stock options, knowing that I do not at present own the stocks. These are stock options that I can buy at a low (fixed) price and optionally sell on the same day for the price of the day (typically higher), wh ...

Last Modified:  27 Aug 2011 08:28  GMT

How should Zakâh be paid on the commercial goods of a retail outlet? What possessions of the retailer are subject to Zakâh?

Last Modified:  27 Aug 2011 08:27  GMT

I wish to pay the Zakâh on the money that I have in the month of Ramadan. The problem is that a good portion of that money has been in my possession for less than a year. Can I pay my Zakâh on that money in advance in order to achieve the objective of paying it all in the month of Ramadan? Is this, moreover, a recommended thing to do?

Last Modified:  27 Aug 2011 08:26  GMT

Is Zakâh obligatory for a person who has an outstanding debt?

Last Modified:  27 Aug 2011 08:25  GMT

Do I have to pay Zakâh on my income? How much do I have to earn in order to be obliged to pay Zakâh? How do I pay Zakâh upon my savings?

Last Modified:  27 Aug 2011 08:24  GMT

As a retailer, I wish to understand how Zakâh is paid on commercial goods. I understand that, every year, I have to pay Zakâh on my entire inventory as well on all the money that I earn, even if that money or some of that inventory was not in my possession for a full year. Why is it different than for an employee’s savings? If I were earning a salary, I would only pay on the savings that I have kept for a year, not on all the money that I possess. Why is there a difference?

Last Modified:  25 Aug 2011 06:47  GMT

I am conduction the annual inventory at my pharmacy, and I want to pay the Zakâh on all the goods that I have in stock. I do not know what to do about the medicines that I sell. The stock of medicines that I have is provided by various pharmaceutical companies and sold at the pharmacy for a predetermined price, of which 20% is retained by the pharmacy. The medicines in stock remain at the pharmacy until sold or, if not sold two months before their expiration date, are then returned to the pharm ...

Last Modified:  25 Aug 2011 06:46  GMT

My brother bought a house from someone overseas and made a binding contract with that person. We all agreed and we are witnesses that my brother is now the owner of that house even though he has not paid the money yet. He has the money in his possession, but cannot send it overseas for another year because of money transfer problems. The seller knows about this and has agreed to wait. The money is still in my brother's account but he has in fact spent it by buying the house. This is the problem: ...

Last Modified:  25 Aug 2011 06:45  GMT

When paying one's Zakah on gold or silver, will the monetary amount due be based upon the original purchase price of the precious metal or its present market value?

Last Modified:  22 Aug 2011 02:10  GMT

If people are taking care of an orphan, do they have to pay zakaat al-fitr on his behalf?

Last Modified:  26 Jun 2011 02:10  GMT

Dear Imam. My friend has a property with annual rental income of $15,000. He uses this money for family use. He also owns a piece of land worth $16000. At the same time he has a loan from the bank to the amount of $30,000. He is employed with 6 figure salary but his savings are Zero. He intends to pay off loan as soon as his financial situation improves. My question is How much should he pay for Zakat?

Last Modified:  03 Jun 2011 02:10  GMT

My brother has a mental disability and some people gave us zakaah for him. Please note that my brother is not in need and he has his own income which reaches the nisaab, and zakaah is paid on it. What should we do with this money that came to us? Do we have the right to dispose of it and give it to someone who is entitled to it?

Last Modified:  11 May 2011 02:10  GMT

I got married in December 2005 and I was given a considerable amount of Gold jewellery by my parents and in laws on which zakat is wajib. When I came to Canada I brought some gold jewellery with me and the big ones are back at my home. My father is paying zakat for the rest of my jewellery since the time they were bought. Now my question is 1)Can my father pay my zakat or does my husband has to pay my zakat as I have no source of income? 2) I sold gold [jewellery] that I used to wear for some ti ...

Last Modified:  20 Apr 2011 02:10  GMT

There is a young man who has not yet reached the age of twenty, and he has two older sisters. His father died and left them an inheritance, but his father only prayed occasionally and he did not pay zakaah of 2.5% on his accumulated wealth each year. He used to spend on his household from the interest he got from the bank. My question is: 1- What is the ruling on the zakaah on this wealth that was not paid for several years? 2- How can expiation be offered for that haraam interest that he us ...

Last Modified:  12 Apr 2011 02:10  GMT

There are poor families who have grown-up children who are able to earn money, but they do not work on the grounds that this work is not befitting for them. Should they be given zakaah?

Last Modified:  27 Mar 2011 02:10  GMT

Some shopkeepers give the zakaah of their wealth in the form of milk and rice, and after giving it to the poor person they buy it back from him for something less than the real price. Is this permissible?

Last Modified:  21 Mar 2011 03:10  GMT

I lent some money to someone. Is it permissible for me to send the poor person to him to take it from him, with the intention that that be zakaah?

Last Modified:  18 Mar 2011 03:10  GMT

A family took in an orphan with their own children. Is it permissible for them to spend some of their zakaah on him, such as buying his clothing and food?

Last Modified:  28 Feb 2011 03:10  GMT

If a person is bringing up a child who is still at the age of breastfeeding, is it permissible for him to accept zakaah?

Last Modified:  06 Feb 2011 03:10  GMT

MY question is, if someone lies to you by saying all ur sins we be removed and u will be like a new born baby if you give zakat every month. and u ask them for daleel and them give u some made up daleel(proof) and u do that act such as giving zakat every month. so even if that wasn't true and the person lied to u but u searched the the daleel and found it but actually the daleel wasn't true would all ur sins still be erased? Im asking this question because this problem happens to many people.

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