The Zakah of the Cooperative Family Fund
Machine translationRead the Arabic original
The questioner:
The questioner: We have a cooperative family fund that started this month, into which a sum of about one thousand and three hundred riyals is deposited. How do we calculate its zakah, and how do we calculate the lunar year? May Allah reward you with good.
The Shaykh:
If the fund is for charity and helping the needy, there is no zakah on it, because this is its purpose and the purpose of zakah. However, if this fund is an investment fund intended for trade and investment, then zakah is due on the money you deposited in it and on the profits that come to you from it, on the capital. And at the end of every year, one pays zakah along with his share in this fund. Yes.
The questioner:
We hope.
The Shaykh:
If they appoint one person to manage the fund and pay the zakah on behalf of everyone, there is nothing wrong with that.
The presenter:
May Allah reward you,
The questioner: We have a cooperative family fund that started this month, into which a sum of about one thousand and three hundred riyals is deposited. How do we calculate its zakah, and how do we calculate the lunar year? May Allah reward you with good.
The Shaykh:
If the fund is for charity and helping the needy, there is no zakah on it, because this is its purpose and the purpose of zakah. However, if this fund is an investment fund intended for trade and investment, then zakah is due on the money you deposited in it and on the profits that come to you from it, on the capital. And at the end of every year, one pays zakah along with his share in this fund. Yes.
The questioner:
We hope.
The Shaykh:
If they appoint one person to manage the fund and pay the zakah on behalf of everyone, there is nothing wrong with that.
The presenter:
May Allah reward you,
Source
قناة «العلامة الدكتور صالح الفوزان»، محاضرات في العقيدة والدعوة-01-الانتحار وجريمة قتل النفس المعصومة|صالح الفوزان|كبار العلماء — youtube.com (54:56)
The Arabic text is a machine transcription of the audio recording.