Zakah on Traded Shares
Machine translationRead the Arabic original
The questioner:
I have two questions. May Allah bless you, Honorable Shaykh, may Allah reward you with good. My first question is: regarding the kingdom where shares are traded in its country, is zakah obligatory on them, or is it not?
The presenter:
A moment, the Shaykh is about to answer.
The Shaykh:
What is the question?
The presenter:
Repeat your question, Abu 'Abd al-Wahhab.
The questioner:
For example, like the amount you sell and buy without any solution. Do you have to pay zakah? I swear by Allah, I do not pay zakah on this amount.
The Shaykh:
If the shares are for trade, for buying and selling, you buy shares and then sell them, if you make a profit, these are commercial shares and they are subject to zakah. If you sold them, you pay zakah on their value. If you did not sell them, you appraise them at their current value and pay zakah on that. Yes.
I have two questions. May Allah bless you, Honorable Shaykh, may Allah reward you with good. My first question is: regarding the kingdom where shares are traded in its country, is zakah obligatory on them, or is it not?
The presenter:
A moment, the Shaykh is about to answer.
The Shaykh:
What is the question?
The presenter:
Repeat your question, Abu 'Abd al-Wahhab.
The questioner:
For example, like the amount you sell and buy without any solution. Do you have to pay zakah? I swear by Allah, I do not pay zakah on this amount.
The Shaykh:
If the shares are for trade, for buying and selling, you buy shares and then sell them, if you make a profit, these are commercial shares and they are subject to zakah. If you sold them, you pay zakah on their value. If you did not sell them, you appraise them at their current value and pay zakah on that. Yes.
Source
قناة «مكة و المدينة»، 01 / فتاوى على الهواء - 10 01 1435هـ _ الشيخ صالح الفوزان — youtube.com (37:41)
The Arabic text is a machine transcription of the audio recording.