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The Fatwas delivered by the Islamic Researches Academy in Cairo

Regarding Zakah, the Second Conference of the Islamic Researches Academy decided the following:

First: Taxes levied by the state do not replace the payment of Zakah.

Second: As for metal coins, banknote, cash money and commercial goods, they are evaluated according to their value in gold. If any of them reaches the allotted Nisab (20 Mithqals of gold), Zakah is due in such case. Gold is to be evaluated by financial experts.

Third: As for invested money about which no Qur'anic verse or a Prophet's Hadith was mentioned, Zakah is to be calculated as follows:

  • No Zakah is due on buildings, factories, ships, airplanes ... etc. but it is due on their net profits if they reach the allotted Nisab and a year lapses while they are in one's possession.
     

  • If they have not reached the allotted Nisab and their holder has other money, Zakah is due on the grand total of both if it reaches the allotted Nisab and a year lapses with such money in his possession.
     

  • The rate to be given as Zakah is 2.5% of the net profits.
     
  • In companies founded by a number of partners, such rules do not apply to the grand total of the Company's profits but each partner should pay Zakah due on his own profits.

Fourth: Zakah is due on mature people as well as those under age. In the latter case, their guardians will give Zakah on behalf of them.

Fifth: Zakah is a basis for achieving social solidarity in the Islamic countries. Such fact should be utilized when displaying the facts and fundamentals of this true religion: Islam. Zakah money should be used in liberating any Islamic occupied territories.

Sixth: The method of levying and distributing Zakah is followed according to the conditions of each country.

Seventh: Regarding charity, the Conference would like to point out the following facts:
  1. Islam calls its followers to spend money in the cause of Allah and prohibits them to be miserly or tight-fisted.

  2. Islam warns its followers from asking for charity or accepting it except in cases of necessity.

  3. Islam calls for treating non-Muslims fairly, helping them in case of need and taking care of every individual in the Muslim community.

 
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