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Fatwa ID: | 22170 |
Title: | Is there zakat on this amount of money? |
Category: | Poor-due or obligatory charity (Zakaah) |
Scholar: | Dr.Salah Al-Sawy |
Date: | 11/03/2007 |
Question
May the peace, mercy and blessing of Allah be upon you.
I invested a sum of 150,000 riyals in a livestock company a year ago. Then, approximately 10 months ago and continuing until now, the company`s stock stopped being traded on the market. Is there zakat [to be paid] on this money? Note that the drop in the market had already made the capital shrink to only 260,000 riyals before cessation. May Allah reward you well.
Answer
In the Name of Allah, all praise is due to Allah, and may peace and blessing be upon the Messenger of Allah. To proceed:
It is still necessary to pay zakat on this money; the decrease in its value does not affect the obligation of paying zakat, unless it has fallen under the minimum legal amount (nisab), which has not happened in this situation.
And Allah Almighty is more Exalted and more Knowledgeable.