The Saudi Sighting


Fiqh, Moon Sighting

The Saudi calendar as regulated by the Majlusl Qadhaa a’Alaa was based on a 32 year pre-set calendar set in accordance with the Greenwich New Moon Astronomical Timetable from 1409 AH to 1440 AH. This resulted in the month commencing approximately 1.5 days prior to the visibility of the moon or some 8 – 9 hours before its own new moon time.

September 25, 2010

How To Calculate Zakah On Business


Contemporary Fatawa, Fiqh

Q.
(1)
Is zakat payable on business? If so, how does one calculate the amount? I have overdrafts and loans in business too, as well as receivables outstanding.

(2) Is zakat payble on stocks? I have stocks from various periods starting from 30 days to over 365 days. There are certain stocks which are not sellable anymore.
(M.G.Y. Karachi)

A. First of All, you should set a particular date of a lunar month for the valuation of your assets for the purpose of zakah. Better you choose the first of Ramadaan for this purpose, because this is the date on which the government also collects zakah from all the citizens. This date will be your zakah valuation date for each year as long as you remain sahib-e-nisab (the one on whom zakah is obligatory).

April 23, 2010