Page 14 - Obligatory Zakat Made Easy
P. 14

Definition   ii. Shares Sold in One-Year Period

 Dr  Yusoff  AI-Qardhawi  in  his  book  Fiqh-Zakat  defines
 shares  as  valuable  papers  traded  especially  in  the  stock   Shares bought for trading or that are short-term in
 exchange.   nature should be paid zakat at the rate of 2.5% of the
      current market value in ownership.
 Share  certificates  in  a  company  listed  in  the  stock
 exchange  are  easy  to  liquidate  compared  to  shares  in  a   Short Term
 company that is not listed in the stock exchange such as a
 private limited company or a co-operative.   [Current Share Value+ Trust account current balance
       - Related costs   Notee ] x 2.5%
       = [RM84,000.00 + RMS,000.00 - RM350.00] x 2.5%
 Definition   = RM88,650 00* X 2.5%
       = RM2,216.25
 The share owner can separate the calculation of zakat on
 shares into two groups:   Note 6:  Related costs are brokerage costs,  GST,  clearing fees,
            stamp duty etc.
            *Amount has reached nisab.
 i. Shares Owned Over a Year
 Shares held for annual returns or long-term ownership
 should be imposed zakat at the current market value   Companies Paying Business Zakat
 plus the dividend earned at the rate of 2.5%.
    Shares for companies paying business zakat are no longer
    charged zakat.
 Long Term

 [Current Share Value+ Trust account current balance
 + Dividend - Related costs  Notes   ]  x 2.5%
 = [RM134,000 00 + RMS,000.00 + RMl,000.00   Shares Not Listed in Stock Exchange
 - RM400.00] x 2.5%
 = RM139,600 00* x 2.5%   These  shares  are  not  easily  liquidated.  Practically,  zakat
 = RM3,490.00   should be paid on the dividend received if it reaches nisab.

 Note 5:  Related costs are brokerage costs,  GST,  clearing fees,
 stamp duty etc.
 *Amount has reached nisab.











 10                                                 11
   9   10   11   12   13   14   15   16   17   18   19