My father passed away and left behind a sum of money, so I placed it in a company to invest it so that zakah would not consume it, and I sometimes paid its zakah from my own money.
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The questioner : May Allah reward the honorableThe Shaykh : My father passed away and left behind a sum of money, so I placed it in a company to invest it so that zakah would not consume it.
The Shaykh : Trust or investment
The questioner : Investment, so I placed it in a company to invest it so that zakah would not consume it, and I sometimes paid its zakah from my own money. Then, after several years, I decided to withdraw it from that company and put it into another project. It grew and increased, but after a few years it became less. Am I required to pay the heirs the original capital, or the increase that accrued to it?
The Shaykh : As long as the money is inherited from the father, its principal and its profit belong to the heirs. However, it is not permissible for any one of the heirs to place it in a company without the consent of all of them; either they must appoint him as their agent, or he must seek their permission and then place it in the company. Whatever increase has occurred is attached to its principal, meaning: it is distributed to each heir according to his share of the inheritance. Yes.
The Shaykh : Trust or investment
The questioner : Investment, so I placed it in a company to invest it so that zakah would not consume it, and I sometimes paid its zakah from my own money. Then, after several years, I decided to withdraw it from that company and put it into another project. It grew and increased, but after a few years it became less. Am I required to pay the heirs the original capital, or the increase that accrued to it?
The Shaykh : As long as the money is inherited from the father, its principal and its profit belong to the heirs. However, it is not permissible for any one of the heirs to place it in a company without the consent of all of them; either they must appoint him as their agent, or he must seek their permission and then place it in the company. Whatever increase has occurred is attached to its principal, meaning: it is distributed to each heir according to his share of the inheritance. Yes.