Question
Dear Brother,
Asslamualikum.
I have a question which I am going to place. But I have a request. Please give me answer Just this way : yes or no. Because I cannot understand everytime the complicated explanation. I got some money from my retirement benifit. I added some money with this and bought one kind of ISLAMIC BOND named MUDARABA BOND from an Islamic Bank. The Bank is governed by Islamic Law.
The Bond is a 5 years term bond. Before this time I shall not refund my money. I shall refund my whole money with benifit on 2009. So, my question is: Shall I need to pay zakah on 2005, 2006, 2007, 2008, 2009? If I need to pay zakah 2005 to 2009 how I shall pay zakah because the money will not my hand at that time.
Please tell me just : Yes, you need to pay zakah from 2005 to 2009. Or No, you no need to pay zakah before 2009
Allah Hafez
Answer
No. You do not need to pay Zaka’h till the end of the maturity date. At that time, you will need to pay 10% of the profits that you have earned on your investment as Zaka’h.
Regards,
Moiz Amjad
April 3, 2005