Zakah on the principal of wealth and its profits
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Fatwa No. ( 15323 )
Q: A man has a sum of money that has reached the nisab, and he pays its zakah. Before the second lunar year (hawl) is completed, the amount increases by a certain quantity. He then places this increase as a partnership with a partner in a project to print one of the Islamic books. The second hawl has passed, and this money is with the partner in the project. How can I pay zakah on this portion? Do I pay zakah on the principal amount paid to the partner, or do I wait until the project ends to determine the profit or loss, and then pay zakah based on that? It is known that the partner does not have the full amount for the project, but the materials needed for the project are obtained by paying part of the amount due for them, and the remainder after a certain period, which is the expected time for the distribution of the book. The same applies to the printing press, binding, and so on. That is, this project, for example, costs a certain amount, and it is started with part of the amount, while the rest is a debt owed to the relevant parties.
A: You must pay zakah on the principal amount and its profits whenever the hawl is completed for the principal
and the hawl for the profits is the hawl of their principal. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: A man has a sum of money that has reached the nisab, and he pays its zakah. Before the second lunar year (hawl) is completed, the amount increases by a certain quantity. He then places this increase as a partnership with a partner in a project to print one of the Islamic books. The second hawl has passed, and this money is with the partner in the project. How can I pay zakah on this portion? Do I pay zakah on the principal amount paid to the partner, or do I wait until the project ends to determine the profit or loss, and then pay zakah based on that? It is known that the partner does not have the full amount for the project, but the materials needed for the project are obtained by paying part of the amount due for them, and the remainder after a certain period, which is the expected time for the distribution of the book. The same applies to the printing press, binding, and so on. That is, this project, for example, costs a certain amount, and it is started with part of the amount, while the rest is a debt owed to the relevant parties.
A: You must pay zakah on the principal amount and its profits whenever the hawl is completed for the principal
and the hawl for the profits is the hawl of their principal. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.