Question: Assalamu Alaikum wa Rahmatullah wa Barakatuhu, Topic: Is Zakat an individual ‘Ibadah? Our honorable Ameer, noble sheikh… May Allah help you, grant you success, and aid you with Ansar (supporters) like the Aws and Khazraj… With reference to the above topic I would like to ask: Is Zakat an individual ‘Ibadah that is obliged upon individuals only or … Continue reading Q&A: Zakat on Joint Money
Tag: Money
Nisab (Amount) of Zakat
Question: In the book Funds in the Khilafah State on page 144 (the English version), it mentions the following: “However if the Nisab of gold and silver is complete from the beginning of the year and it increases during the year then if the increase emanated from trade it is added to the original amount (Asl). This … Continue reading Nisab (Amount) of Zakat
Q&A: Concerning Riba [Interest] Based Money
The Answer to the QuestionConcerning Riba [Interest] Based MoneyTo: Ibrahim Abu Fathi(Translated) Question: Our eminent Ameer, may Allah preserve him and forgive his sins, Assalamu Alaykum wa Ramatullahi wa Barakatuhu Someone opened an interest-based bank account in one of the nowadays existing (usurious) banks and later realized that riba [interest] was added to his account. … Continue reading Q&A: Concerning Riba [Interest] Based Money
Zakat on Trade Money
Question: Assalamu Alaikum, I have a question about zakat. First, I’ll tell you the situation; I make profit on selling apartments. For example, I bought an apartment for 30,000 and sold it for 35,000, after one year I’ve made 20,000 profit. I had last year 100,000 and now I have 120,000; on which amount do … Continue reading Zakat on Trade Money
Fiat Money and Zakah
Question: The following came in the book of Funds, in the second paragraph of p. 174 “and these reliable (covered with gold) banknotes consider the covered ratio of them as representative banknotes ……… ….. (and it says at the end of the paragraph) …..if they did not amount to forty dinars, then there is no … Continue reading Fiat Money and Zakah