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Fatwa CenterZakah of shares intended for the utilization of their revenues
Question
I bought shares in an Islamic bank and I utilize the revenue. Do I have to pay Zakaah for these shares?
Answer
All perfect praise be to Allaah, The Lord of the worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad, sallallaahu ‘alayhi wa sallam, is His slave and messenger.
If the intended purpose of these shares is utilizing their income and not to sell them when their price increases and their activity is not related to trade commodities, then Zakah should not be paid for these shares. However, Zakah should be paid for their revenue if it reached the Nisaab and a lunar year elapsed. If the activity of these shares is related to trade commodities or they were bought with the intention of selling them, then Zakah should be paid for the shares and their profits.
Allaah Knows best.
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