How can I calculate zakath on deposited money in Islamic bank?
A Brief Description of the Question:
One year before, I had some money which was deposited in an Islamic bank. Last year I paid zakath (obligatory alms) on the deposited amount of money. Do I have to pay zakath on same deposited money this year too? If so, do I have to calculate zakath on initially deposited amount or Inclusive profit shared with me or only for the profit gained by me from deposit?
The Answer:
You must pay alms via the latest total amount of money. So, you have to give alms the fortieth of both the capital money and its profit.
20-01-2009 05:02:46
Düğüme özel
- Muslims working abroad deposit their money in the banks there. When they withdraw this money, they are given some amount of interest. Some do not receive this money considering it illicit whereas some receive the money saying that to receive interest from
- It is religiously permissible to draw interest in Dar-ul Harb. How should Muslims who live in those lands act?
- Is it permitted to deposit money in the bank without interest and to keep money in demand deposit in the bank?
- Is it permissible to buy and sell things interest-free using credit cards? If yes, are there things to take care of? If yes, what are they?
- Is the money that a person earns by working in a bank haram? Can his children spend the earning of that person?













Click here to login if you are member.
Click here to register if you are not member.