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Should I pay zakat on my right to buy shares at $50 now?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
My company have given me the options to buy 100 shares of the company at $50 each. (Stock options). These options are not transferable. Today The price of shares is $75 each. I have not yet exercised my right to buy @50. I have intentions to buy these shares @50 once the market price is $100. DO I have to pay zakat on this right to buy shares at this moment in time? This option will expire in the next 4 years (mening i have to excercise this right within next 4 years). W”salaam Muzammil

Answer

(Fatwa: 2029/323=TB/1429)

Now, you have only intended to buy the shares, you will not have to pay zakah of the shares which are still your right only. You will have to pay zakah of the cash and wealth which you possess presently.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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