Answered by Shaykh Irshaad Sedick Question Does one receive more reward for paying zakat during Ramadan? Shaykh Irshaad Sedick explains whether giving zakat during Ramadan increases one’s reward. Shaykh Irshaad Sedick graduated from Dar al-Ulum al-Arabiyyah al-Islamiyyah, under the tutelage of Shaykh Taha Karaan. He received Ijaza from several esteemed scholars and has authored “The Musnad […]

Answered by Shaykh Muhammad Carr Question Can I purchase equity in an Islamic school or society, similar to investing in a company? Is it permissible to profit from such an investment? Additionally, if zakat funds are used for the Islamic school, is it permissible to pay salaries to teachers or staff from the zakat money? […]

Answered by Shaykh Muhammad Carr Question  We are a group of business partners with differing roles and financial arrangements, and we seek clarification on the proper calculation of Zakat in our situation: Our business has multiple partners with varying profit-sharing ratios (e.g., 40/40/20) and differing equity contributions (e.g., 37.5/37.5/25). One of the partners is a […]

Answered by Shaykh Muhammad Carr Question I am in the business of buying, fixing, and selling properties for profit. I understand that zakat is due on the property’s market value if held for one full zakat year. However, what if I sell and buy multiple properties within a year? For example, if I buy a […]