Category: Zakat
Fatwa#: 21476
Asked Country: United Arab Emirates

Answered Date: Jul 17,2012

Title: Do I have to pay Zakaat on the market value or investment value of shares?

Question

Assalam Alaikum Mufti Saheb,

I had invested INR 3 lakhs in shares of some textile, steel, software and petroleum companies in India about 3 years ago. Now the value of those shares have depreciated more than 50%. Do I have to pay zakat on the investment value (ie.3 lakhs Indian rupees) or their current value?

Jazakallah.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Muhtaram,

JazakAllah. For your question.

One is obligated to pay Zakaat on the current value of the shares that one owns in a company and the dividends that accrued thereof.[1]

And Allah Ta’āla Knows Best

Moulana Ismail Desai,
Student Darul Iftaa
Durban, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.

 



  او ما يساوي قيمته من عروض تجارة (نور الايضاح، ص 209، علمي ببليشرز)[1]

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