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Zakaat

Answered according to Hanafi Fiqh by Fatwaa.com
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Assalamualaikum.

I have certain amount of money which is above the nisab value..As I don’t have any particular needs my family invested it in trade..I want to know if zakat has to be paid on that money..

Answer

Wa’alaykum as Salam wa rahmatullahi wa barakatuhu,

Yes, Zakah has to be paid on the money invested. Even though you may not have access to it at present, since you are the owner, you will have to discharge the Zakah.

And Allaah Ta’aala knows best

Wassalaam,

Ismail Moosa (Mufti)

This answer was collected from Fatwaa.com which is an excellent Q&A site managed by Mufti Ismail Moosa from South Africa. .

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