The money saved in the commercial chambers
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Fatwa number ( 9990 )
Q: We inform Your Eminence that a commercial chamber has been established in our region, the al-Bahah region, which serves business men and merchants by informing them and protecting them from fraud, both domestically and abroad, and by providing them with the necessary information. The chamber serves as a link between the private and public sectors. Given that there are revolving balances in the bank for the chamber’s account, resulting from amounts collected from chamber members to cover its expenses, such as employee salaries, paper, furniture, offices, and the like, in accordance with the systems and instructions in force in the Kingdom of Saudi Arabia , and that these amounts are deposited in banks without interest, and that the lunar year (hawl) sometimes passes over the surplus; for this reason, we have decided to write to Your Eminence regarding the procedure followed for balances over which the hawl has passed. Is zakah due on them at the rate of a quarter, or what is the ruling? We thank Allah, then you, for your cooperation and for guiding us to what is in the interest of our religion and our worldly affairs. .
A: Zakah is obligatory on the chamber’s balances if they reach the nisab and the hawl has passed over them; because they are funds owned by their owners, who are obligated to pay zakah, and they serve their commercial interests. Therefore, it is obligatory to pay their zakah, and the obligation is to pay a quarter of a tenth, which is 2.5 percent.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad and his family and his Companions.
Q: We inform Your Eminence that a commercial chamber has been established in our region, the al-Bahah region, which serves business men and merchants by informing them and protecting them from fraud, both domestically and abroad, and by providing them with the necessary information. The chamber serves as a link between the private and public sectors. Given that there are revolving balances in the bank for the chamber’s account, resulting from amounts collected from chamber members to cover its expenses, such as employee salaries, paper, furniture, offices, and the like, in accordance with the systems and instructions in force in the Kingdom of Saudi Arabia , and that these amounts are deposited in banks without interest, and that the lunar year (hawl) sometimes passes over the surplus; for this reason, we have decided to write to Your Eminence regarding the procedure followed for balances over which the hawl has passed. Is zakah due on them at the rate of a quarter, or what is the ruling? We thank Allah, then you, for your cooperation and for guiding us to what is in the interest of our religion and our worldly affairs. .
A: Zakah is obligatory on the chamber’s balances if they reach the nisab and the hawl has passed over them; because they are funds owned by their owners, who are obligated to pay zakah, and they serve their commercial interests. Therefore, it is obligatory to pay their zakah, and the obligation is to pay a quarter of a tenth, which is 2.5 percent.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad and his family and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.