gold and silver Archives - Page 2 of 24 - IslamQA

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Is fiat currency recognized in Shari’ah?

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I am emailing regarding the permisibillity of fiat money in the sharia which is reportedly the modern majority currency. Some reportedly say that it is haram as it has no intrinsic value and is based by riba-based transactions and that the only valid currency is Sunnah and Quran currency.mainly gold.dinar and silver dirham. what… read more »

Zakaah on jewellery kept for daughters

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My wife has 550grams of gold in the form of jewellery. All of the jewellery is not in her use. She uses only some of the selected ornaments, and for about rest of ornaments, she has strong intend to reseve for our daughters. My question is that, either we have to pay Zakat on all… read more »

Zakat while in debt

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I bought a house for £145,000 £15,000 was lent by my mother£50,000 was lent by my fatherI paid £23,000 towards itI took a loan out for the remainder £57,000 Question: My mother has a total of £30,000, if she lent me £15,000 from this 3 weeks before her zakat due date, how does she… read more »

Zakaat on rental property.

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Asalamualaikum,   I own a property which is used for rental purposes only and provides an income each week (currently). Do i need to pay Zakaat on this and if so, how should I calculate it?   jazakhalah khair Answer In principle, if a person possesses a… read more »

Zakat on student grants

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So my tuition fee is 9k a year, right now I’m in 27k of debt. The terms of the student Loans are as follows:   – I only repay the loan once I start earning 21k or higher in employment (so I’ll start repaying as soon as I leave uni) –… read more »

Is it permissible to become rich in Islam?

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Assalamu alaikum. Question: Is earning in Halal way to become rich and saving it in the bank and taking multiple properties with that saving Provided Zakat is done properly and Sadakah also done to an extent. Is this allowed in Islam?. I heared that Allah will be very angry on those people who… read more »

Zakat on benefits

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I have a disability as such I receive part of money from the government. Do I have to pay zakat on that money? Answer In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In principle, the money you receive will be part of… read more »