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Does one have to be in possession of wealth for twelve months for that wealth to be liable for zakaat?

Answered as per Hanafi Fiqh by Askimam.org

If i take out my zakaat on the first of ramadhaan and in year one i have $10 000. In year two i have $20 000 on the first of ramadhaan. The additional $10 000 came into my possession 15 Shabaan. Do i pay zakaat on $10 000 or $20 000? Salaams

Answer

Zakaat must be paid on $20 000. (Nurul Idhaah pg.154)

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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