Fatwa #1712512 September 2008Saudi Arabia

If I bought a flat as an investment with the hope that I could sell it some time in the future

Question

If I bought a flat as an investment with the hope that I could sell it some time in the future and use it to fund my children’s university studies or even their marriage do I have to include the value of the flat in my zakah calculaton? If so do I include the cost I bought it for or the current market value? If you could assist I would appreciate

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

Zakāt will only be obligatory upon the flat if the purpose of your purchase was to re-sell the flat.

Zakāt will be obligatory upon the current value of the flat.

And Allah knows best

Wassalam

Ml. Ehzaz Ajmeri,
Student Darul Iftaa

Concurred by:

Ml. Yusuf bin Yaqub,
Student Darul Iftaa

Darul Iftaa

#193451. I have invested little money with agents who give 7% commission on every transaction. Would it be correct to... 2) we store potatoes as a normal practise. But when we store it, the price is reasonably low and when we see the market is fair enough high we sell it.?
#19825"Islamic" Investment Banking, buying and selling.
#18673Are muslims allowed to invest money in share market or buy shares in company's?
#46728Is it permissibe to invest in the stock market in the form of buying and selling shares
#14864The money is invested in the forex and the commodities market
#19259I am working with an American Title Insurance and Mortgage company in as a process trainer. I have also invested in stock market and Islamic forex. Could you please help and make me understand whether I am in a wrong profession?
#40132What is the ruling of investing on the Stock Market, trading with forex, investing in crypto-currency and the concept of “stop loss” and take profit?
#221811. Will it be ok if I bought shares with ppc who is a cement supplier. I am a hardware retailer, and I have been told that ppc shares have been performing well. 2. I am presently also engaged in the buying and selling of Kruger rands require advise as to whether I could also trade forex trading and selling dollars

Something wrong with this record?

Question

Answer

Related rulings