Is zakat obligatory on an amount of 200,0 Egyptian pounds that was paid to subscribe to a small company, and a year has passed since then?
Partners must pay on each individual's share upon the completion of a hawl (lunar year), provided it reaches the (minimum threshold). Debts owed by a solvent and acknowledging debtor are added to the zakatable wealth, while debts owed by the company are subtracted. However, if a partner possesses other non-zakatable assets that are not needed, these can be set against the debt. Zakat is not obligatory on fixed assets owned by the company that are not intended for sale, such as furniture, office equipment, and vehicles used for project purposes. The nisab for banknotes is approximately equivalent to 85 grams of gold or 595 grams of silver, and the obligatory zakat is a quarter of a tenth (2.5%).
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