Q: I'm the executor of my dads estate. One of the bequests was to pay my younger sister a stipulated accumulative amount on maturity of a fund that's held at Oasis. During this period of maturity which might take a few more years to earn. The amounts accumulated over the last 4 years,do we have to pay zakaat on the current amount, and the amounts over the last 3 years? The account is on my sisters name who is of age, although i'm in control of the account.
Q: I am in possession of a collector's coin set of several silver coins that I need to include in my Zakaat calculation. I understand that the value of the coin set is dependent on the current market value of the particular coin set, and not on the market value of silver. Searching online, authentic retailers are selling this coin set at several prices, with the lowest price being R3 250.00 and the highest at R3 600.00. There are several different prices in between. I have emailed other popular retailers whose prices are not mentioned online, requesting their prices for this particular coin set. Insha-Allah, they should respond soon. Depending on the response of the other retailers and the current pricing information, how should I calculate the 'market value' of this coin set for my Zakaat calculation?
Q: I have a retirement fund called 401K where I contribute certain amount of money every bi-week and the employer matches certain percentage. I can withdraw the money if I wish but before the age of 59 and half if the money is withdrawn there is a penalty and tax burden involved. The question is whether I have to pay zakaah on the this and if I have to what would be the correct way to do this?
Q: I have a question regarding some money left unused post event. At a college function I and my class mates were organisers and we collected money from mates and juniors. The intention was clear that all money should be used, but some amount has been not used. So now who is the shari'ee owner of that money? Is it permissible for me to take back money which I had given for the event? My mates have an excuse that we were helping physically and fancially? Not the others. Do organisers have the right to take the money only what they have given or whole amount? If not what is the shar'ee hukum?
Q: A charity trust run under the stewardship of scholars is doing fund raising by means of video appeals in the Masjid Jamat Khana. In these videos faces of people can be seen. Ulama condone this by attending the programme in the Masjid. Is raising funds in this way permissible and is it permissible to broadcast such videos in the Masjid Jamat Khana?
Q: A person who has wealth equivalent to 200 dirhams should take out zakaat. How should a person work out the 200 dirhams into his currency? I live in South America and there is no one who can help me with this. Do I work it out from the Emirati Dirham?
Q: Do we need to pay Zakaat on our compulsory pension/provident fund we have with the company. Should we include this amount (market value @ zakaat date) as part of our assets when calculating our Zakaat.
Q: What is the status of wealth on which zakaat is not paid. I am a student and my father does not pay zakaat. Is it permissible for me to use the money he gives me for all my needs, studies, etc?
Q: I bought something for resale purposes. Now I no longer intend selling it, rather I will use it in my home. Will Zakaat be fardh on it?
Q: If a lady is divorced with two kids, living on her own, working but earns minimum to pay rent /water/lights/groceries petrol etc. She has her own car but sells cars now with her brother and earns profits from there, not always a set amount but +- R1 000/R1 500 a car. Some months 3 cars and some months no cars. Can she receive zakaat?