I am a Hanafi muslim, living in England (using English pound (£)) and have a question about Zakat. I paid 2.5 % of my savings during the last month of Ramadan (which has just passed). But I realised after the Ramadan had finished that I also have share in an American computer company. Now my quesion is: 1. Is zakaat due on these shares and the dividends received. 2. How is the zakaat calculated on these shares. ( Since they are also in different currencies ( $ as opposed to £). Do I work out the amount of zakaat on these shares in $ and then take 2.5% or convert into £ and then take 2.5 %? 3. When should I give Zakaat since last ramadan has finished. Therefore should I calculate the zakaat on these share for last year and give zakaat now or wait until the ramadan in this year(2001). And give the zakaat on these share for two years,( last year and this year). Please can you give reply for each points mentioned above. Please reply urgently as this has been on my mind for a while. Jaza Kamullaho Khair.
1. Yes.
2. Zakaat should be calculated in $
3. Since Zakaat is due, it should be given immediately.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai
FATWA DEPT.