August 14, 2010
by Ml. Muhammed Shoayb
7 Comments
Q: Assalamu alaikum wa rahmatullah, (first paragraph omitted) I am a college student. I do not work and I earn my money from my parents, scholarships, and other sources. I have about 6,200$ that I have been saving since April … Continue reading
August 14, 2010
by Ml. Muhammed Shoayb
3 Comments
Q: …. I used to send money to my father in Egypt when I have some money and he keeps it in my bank account in Egypt. I want to buy a house for my family. Mistakenly I was told … Continue reading
May 29, 2010
by Ml. Muhammed Shoayb
4 Comments
Q: Asalamualaikum, I was wondering how does a husband go about paying zakaat on his wife’s gold jewelry that he has given as a gift for their marriage??? I may be incorrect but I believe…that the responsibility lies upon her … Continue reading
March 16, 2010
by Ml. Muhammed Shoayb
0 comments
Q: I sold my business for 7 million dollars. I was paid 4 million upfront. My question is on the 3 million that i do not have in my possession. Do i pay zakat on it each year? How would … Continue reading
January 26, 2010
by Ml. Muhammed Shoayb
0 comments
Q: Brochures were sent to our musjid from a reputable zakat foundation. It stipulated that we must pay zakat on money that was put into my insurance fund. Is this correct?
January 9, 2010
by Ml. Muhammed Shoayb
0 comments
Q: How do i calculate my zakat on an American eagle? A: Look up the current market value of the coin. This value can be found on the net, banks, etc. 2.5 % of its current market value would be … Continue reading
December 21, 2009
by Ml. Muhammed Shoayb
0 comments
Q: dear i got a land on installments. i paid a amount initially and remaining amount in quarterly installments. How i should calculate my zakat on it. it is plot. Time: Friday December 18, 2009 at 3:09 pm A: If … Continue reading
December 18, 2009
by Ml. Muhammed Shoayb
0 comments
Q. I bought land in Dubai. It was worth 5 million US dollars. The current value of it is 3 million US. Do I pay zakat on losses? Current value? Some say…….. Answers: If you have purchased the property for … Continue reading
December 12, 2009
by Ml. Muhammed Shoayb
0 comments
QUESTION: What is the consensus on 401K / IRA retirement accounts which are offered through employer benefits and we have the options to participate. Majority of the funds include financial institution. CATEGORY: RETIREMENT SUB CATEGORY: 401K / IRA Time: Thursday … Continue reading
September 19, 2009
by Ml. Muhammed Shoayb
3 Comments
Q. Asalamualaikom Hope you are doing well inshallah… If I give a loan to a friend am i supposed to pay the zakat for that amount of money even though it is not in my possession? Jazakallah Khairan Time: Sunday September … Continue reading