Question
Explain the following rules of Zakat: 1- The annual rule. 2- The rule of actual or assumed growth. (2 Marks ) What money is eligible
Explain the following rules of Zakat:
1- The annual rule.
2- The rule of actual or assumed growth. (2 Marks )
What money is eligible for Zakat and what are the conditions of obligatory alms?
If Ahmed’s wealth was calculated at the end of the month of Dhul-Hijah as follows:
Gold weighing 40 grams, gram price 50 riyals. |
silver coins 1000 riyals |
500 dinars, the exchange rate of the dinar is 10 riyals |
a current account with the Islamic Nation Bank of 6000 riyals |
shares of 1000 shares, the market value of the share 5 riyals |
an investment deposit with the Islamic Bank of Egypt 1500 riyals |
investment certificates 2000 riyals |
an amount in the savings book of 1000 riyals and amount of 500 riyals cash |
What is the amount of zakat due by Ahmed?
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1 Zakat is an Islamic religious obligation meaning that Muslims who can afford it are required to give a set percentage of their wealth to charity each year The percentage that is required to be given ...Get Instant Access to Expert-Tailored Solutions
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