Fatwa Explorer

Fatwa #2627725 July 2013South Africa

Is Zakaat payable on shares owned on the JSE?

Question

Is zakaat payable on shares owned on the JSE?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Zakaat is payable on ones Shari’ah compliant shares in the JSE according to the value the day Zakaat is calculated.

And Allah Knows Best,

Mufti Ebrahim Desai.

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