AskImamDarul Iftaa Mahmudiyyah (AskImam)

If I had $1000 in stocks last lunar year and $2000 in stocks this year, is Zakat payable on $2000 or $1000.

Fatwa 1803English
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Question

By stocks I mean shares of a company traded on the stock market. I was a little unclear about the one year holding period. Does this apply to stocks as well? Please give details. Jazakallah Khairan

Answer

Zakat will be payable on the present shareholding of $2000 in the stock market.

And Allah Ta'ala knows best

Mufti E. Desai

Answered by
Mufti E. Desai
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