Is zakat obligatory on company shares that have been subscribed to (such as "Yansab" and "Dar Al Arkan") but not yet sold?
It is permissible to subscribe to "Dar Al-Arkan" because its activity in real estate investment and development is permissible. As for "Yansab," it is one of the mixed companies that deal with usury, and the most preponderant opinion is that dealing with it is forbidden. Those who permitted subscription to it mandated disposing of the unlawful profit. Zakat is obligatory on shares when a year has passed since their acquisition. For those who acquire them to benefit from their yield, zakat is due on the yield after a year has passed since its acquisition. For those who acquire them for trade, they should pay zakat on them as trade goods. There is no zakat on unlawful profit.
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- Original fatwa ID
- 17840
- Imported
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- Source text, unreviewed
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