December 18, 2009
by Ml. Muhammed Shoayb
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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
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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
September 11, 2009
by Ml. Muhammed Shoayb
0 comments
Question: Assalamualaikum Shaik, I have one question on Zakat. Recently I have purchased some property. Do I need to give zakat on the property value? I have read in some islamic sites that we dont need to pay the zakat … Continue reading
September 6, 2009
by Ml. Muhammed Shoayb
3 Comments
Assalamualaikum Shaik, Hope you find this post in good state of Iman and health. May Allah accept our fastings and make us sincere in our actions. I have some questions. InshaAllah, you may clarify them. 1) Is it ok to … Continue reading
April 30, 2009
by Ml. Muhammed Shoayb
0 comments
Question: man is poor, woman is wealthy. Is the man eligible to receive zakat from a welfare institution? Answer: He can accept Zakah from a welfare institution. (So long as his wife is not giving him the zakat from her … Continue reading
April 27, 2009
by Ml. Muhammed Shoayb
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Q. Can we pay burial cost with zakat. Plese send us an answer fast. A. No. Allah Certainly Knows Best.
February 20, 2009
by Ml. Muhammed Shoayb
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Q. I own a furniture store, do I pay zakaat on goods owned for sale and investment. A. Yes, you would pay zakaat on goods for resale and investment. You would pay your zakaat of these goods and investments based … Continue reading
February 10, 2009
by Ml. Muhammed Shoayb
0 comments
Q. Do I deduct my Zakaat from each pay check, or do I pay of my yearly total income? A. One need not deduct their Zakaat from each pay check, nor from the total income. The criteria for paying zakaat … Continue reading
February 1, 2009
by Ml. Muhammed Shoayb
0 comments
Q. Do we pay zakaat on furniture? A. Furniture for personal usage is not eligible for zakaat. Allah Certainly Knows Best.