One of the investment companies: the original value of the share at the time of subscription was one hundred riyals, and its current value is more than one thousand riyals, and I have received the profit for several years, and
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The questioner : One of the investment companies: the original value of the share at the time of subscription was one hundred riyals, and its current value is more than one thousand riyals, and I have received the profit for several years, and I fear that there may be riba in this matter. I ask for clarification, and may Allah reward you with good?
The Shaykh : It is obligatory for a person in investment companies to pay zakah when the lunar year of possession is completed, and the value at the time of contribution is not considered. If its value is higher than at the time of contribution, it is obligatory to pay zakah on the value when the lunar year of possession is completed. This is unless the government takes zakah from these companies. If the government takes zakah from these companies, then what reaches them clears the obligation. The reality is that the zakah of wealth or investment companies requires investigation and knowledge of how this investment is conducted, and knowledge of whether they are tangible assets or money. So consider this answer a preliminary one, not a final one. The summary of the answer is that if the state takes the zakah of these funds, then what reaches them clears the obligation. Otherwise, it is obligatory to pay its zakah based on its value when the zakah becomes obligatory, not when the contribution was made. This is if the company is of the type where zakah is obligatory on all of it. But if the company consists of tangible assets and equipment that are invested, then there is no zakah at all on these tangible assets and equipment.
The questioner : O Shaykh, one last question.
The Shaykh : One last question, very well.
The questioner : The state's assessment of the zakah, is it
The Shaykh : It is obligatory for a person in investment companies to pay zakah when the lunar year of possession is completed, and the value at the time of contribution is not considered. If its value is higher than at the time of contribution, it is obligatory to pay zakah on the value when the lunar year of possession is completed. This is unless the government takes zakah from these companies. If the government takes zakah from these companies, then what reaches them clears the obligation. The reality is that the zakah of wealth or investment companies requires investigation and knowledge of how this investment is conducted, and knowledge of whether they are tangible assets or money. So consider this answer a preliminary one, not a final one. The summary of the answer is that if the state takes the zakah of these funds, then what reaches them clears the obligation. Otherwise, it is obligatory to pay its zakah based on its value when the zakah becomes obligatory, not when the contribution was made. This is if the company is of the type where zakah is obligatory on all of it. But if the company consists of tangible assets and equipment that are invested, then there is no zakah at all on these tangible assets and equipment.
The questioner : O Shaykh, one last question.
The Shaykh : One last question, very well.
The questioner : The state's assessment of the zakah, is it