Is zakaat payable on shares and investments?

“Yes, it is permissible to give such type of stock as part of Zakaat dispersment. The current market value of the redundant stock – i.e.”

“Firstly, our Darul Ifta is not in favour of investing in Old Mutual as a majority of the income of conventional banks are obtained from interest. Secondly, Zakaah on investments will depend on the nature of the investment.”

“You will have to look at your financial statements and see what amount was invested in fixed assets (non-zakaatable) and what amounts are in zakaatable assets, like cash and trade in stock. That which is zakaatable will be compared against your debt. If your debts are in access then you are not liable for paying zakaat.”

“We understand that you have invested in actual gold bullion based on the information received via Heera Gold’s website. Therefore, one is obligated to pay Zakaat on the amount invested provided the gold reaches the Nisaab (quantum) of gold. The Nisaab of Zakaat for gold is 20 Mithqals or 87.479 grams.”