Answered by Mawlana Ilyas Patel Question How do I calculate Zakat on inventory and receivables in my home business? Should I use the selling price or the cost price for unsold inventory? Are unpaid shipped customer orders zakatable on my zakat date? If goods arrive two days before my zakat anniversary, must I include them? […]

Answered by Shaykh Muhammad Carr Question  I understand that zakat is due on both the invested capital and any accrued profit in fixed-return investments structured under Murabaha. For example, if I invest £10,000 in a Murabaha agreement that yields a fixed profit of £3,000 over three years, my total return will be £13,000. The profit […]

Answered by Shaykh Muhammad Carr Question  For a defined contribution pension scheme, where both the employee and the employer contribute a set amount, I understand that zakat becomes due only once you gain access to the lump sum. Based on this understanding, there are two possible approaches: A. Each year, separately from your other cash […]

Answered by Mawlana Ilyas Patel Question My mother is handicapped, which limits my ability to invest my wealth or earn income. I have to pay significant zakat on the inheritance I received from my grandparents, and I feel this doesn’t honor their hard work. Does Islam provide exceptions for someone in my situation? What can […]