{"id":11898,"date":"2019-09-26T15:16:19","date_gmt":"2019-09-26T15:16:19","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/?p=11898"},"modified":"2019-09-26T19:52:19","modified_gmt":"2019-09-26T19:52:19","slug":"application-of-zakat-on-company-equity","status":"publish","type":"post","link":"http:\/\/daruliftabirmingham.co.uk\/home\/application-of-zakat-on-company-equity\/","title":{"rendered":"Application of Zakat on company equity"},"content":{"rendered":"

\n\tFatwa ID: 02992<\/strong><\/span><\/span>\n<\/p>\n

\n\tAnswered by: Maulana Muddasser Dhedhy\u200b<\/strong><\/span><\/span>\n<\/p>\n

\n\tQuestion:<\/u><\/strong><\/span><\/span>\n<\/p>\n

\n\tAssalamu Alaikum Wa Rahmatullah<\/span><\/span>\n<\/p>\n

\n\tMy question is regarding the zakat on equity.
\n\tI had received preferential equity shares from my former employer. It was issued as a free gift in the year 2011.
\n\tThe company got listed on the stock market in March 2017. The lock-in period allotted by the company for selling the shares was unlocked on 23rd March 2018. Hence I was able to sell part qty of it for buying a house.
\n\t    <\/span><\/span>\n<\/p>\n

\n\tAround 40% of the equity is lying in the Demat form which I intend to keep for the long term.<\/span><\/span>\n<\/p>\n

\n\tMy question is on the applicability of Zakat on it. During the locking period, no transaction was allowed with equity. It's only after the locking period got ended (23rd March 2018), I was able to sell it. In that case, I have not completed a lunar calendar cycle.<\/span><\/span>\n<\/p>\n

\n\tPlease guide me over the applicability of Zakah on it; should you require additional information please let me know.<\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tAnswer:<\/b><\/span><\/span>\n<\/p>\n

\n\t\u0628\u0633\u0645 \u0627\u0644\u0644\u0647 \u0627\u0644\u0631\u062d\u0645\u0646 \u0627\u0644\u0631\u062d\u064a\u0645<\/em><\/span><\/span>\n<\/p>\n

\n\tIn the name of Allah, the Most Gracious, the Most Merciful.<\/strong><\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tFirstly, it is permissible for an employee of a company or business to accept and utilize equity shares given as a gift. The company’s rewards will only become the owner of the employee after the lock-in period has elapsed and they are able to conduct transactions in the shares.[1]<\/sup><\/sup><\/a><\/span><\/span>\n<\/p>\n

\n\tHence, if the lock-in period ended on the 23rd of March 2018, it is from this date that you will start your lunar Zakat year.<\/span><\/span>\n<\/p>\n

\n\tIt is unclear from your question what the state of the shares was from the time they were allocated to you in 2011 to the time when the company was listed on the stock market in 2017. Was this time (2011-2017) part of the lock-in the period also?  <\/span><\/span>\n<\/p>\n

\n\t \n<\/p>\n

\n\tOnly Allah Ta'ala knows best.<\/span><\/span>\n<\/p>\n

\n\tAnswered by Maulana Muddasser Dhedhy
\n\tChecked and approved by Mufti Mohammed Tosir Miah<\/span><\/span>\n<\/p>\n

\n\tDarul Ifta Birmingham<\/span><\/span>\n<\/p>\n

\n\t <\/p>\n
\n
\n

\n\t\t\t[1]<\/sup><\/strong><\/span><\/sup><\/strong><\/a> \u0648\u064e\u0645\u0650\u0646\u0652\u0647\u064e\u0627 \u0627\u0644\u0652\u0645\u0650\u0644\u0652\u0643\u064f \u0627\u0644\u062a\u0651\u064e\u0627\u0645\u0651\u064f \u0648\u064e\u0647\u064f\u0648\u064e \u0645\u064e\u0627 \u0627\u062c\u0652\u062a\u064e\u0645\u064e\u0639\u064e \u0641\u0650\u064a\u0647\u0650 \u0627\u0644\u0652\u0645\u0650\u0644\u0652\u0643\u064f \u0648\u064e\u0627\u0644\u0652\u064a\u064e\u062f\u064f \u0648\u064e\u0623\u064e\u0645\u0651\u064e\u0627 \u0625\u0630\u064e\u0627 \u0648\u064f\u062c\u0650\u062f\u064e \u0627\u0644\u0652\u0645\u0650\u0644\u0652\u0643\u064f \u062f\u064f\u0648\u0646\u064e \u0627\u0644\u0652\u064a\u064e\u062f\u0650 \u0643\u064e\u0627\u0644\u0635\u0651\u064e\u062f\u064e\u0627\u0642\u0650 \u0642\u064e\u0628\u0652\u0644\u064e \u0627\u0644\u0652\u0642\u064e\u0628\u0652\u0636\u0650 \u0623\u064e\u0648\u0652 \u0648\u064f\u062c\u0650\u062f\u064e \u0627\u0644\u0652\u064a\u064e\u062f\u064f \u062f\u064f\u0648\u0646\u064e \u0627\u0644\u0652\u0645\u0650\u0644\u0652\u0643\u0650 \u0643\u064e\u0645\u0650\u0644\u0652\u0643\u0650 \u0627\u0644\u0652\u0645\u064f\u0643\u064e\u0627\u062a\u064e\u0628\u0650 \u0648\u064e\u0627\u0644\u0652\u0645\u064e\u062f\u0652\u064a\u064f\u0648\u0646\u0650 \u0644\u064e\u0627 \u062a\u064e\u062c\u0650\u0628\u064f \u0641\u0650\u064a\u0647\u0650 \u0627\u0644\u0632\u0651\u064e\u0643\u064e\u0627\u0629\u064f \u0643\u064e\u0630\u064e\u0627 \u0641\u0650\u064a \u0627\u0644\u0633\u0651\u0650\u0631\u064e\u0627\u062c\u0650 \u0627\u0644\u0652\u0648\u064e\u0647\u0651\u064e\u0627\u062c\u0650<\/strong><\/a>)<\/span><\/strong>\u0627\u0644\u0641\u062a\u0627\u0648\u0649 \u0627\u0644\u0647\u0646\u062f\u064a\u0629 \u062c 1 \u0635 189-190. \u062f\u0627\u0631 \u0627\u0644\u0643\u062a\u0628 \u0627\u0644\u0639\u0644\u0645\u064a\u0629)<\/strong><\/span><\/span>\n\t\t<\/p>\n

\n\t\t\t\u0627\u0628 \u0643\u0649 \u0645\u0633\u0627\u0626\u0644 \u0627\u0648\u0631 \u0627\u0646 \u0643\u0627 \u062d\u0644 \u062c 11 \u0635 182. \u0645\u0643\u062a\u0628\u0629 \u0644\u062f\u0647\u064a\u0627\u0646\u0648\u0649<\/strong><\/span><\/span>\n\t\t<\/p>\n

\n\t\t\t\u062c\u062f\u064a\u062f \u0641\u0642\u0647\u064a \u0645\u0633\u0627\u0626\u0644 \u062c 2 \u0635 46-47. \u0632\u0645 \u0632\u0645 \u0628\u0628\u0644\u0634\u0631\u0632<\/strong><\/span><\/span>\n\t\t<\/p>\n

\n\t\t\t \n\t\t<\/p>\n

\n\t\t\t \n\t\t<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fatwa ID: 02992 Answered by: Maulana Muddasser Dhedhy\u200b Question: Assalamu Alaikum Wa Rahmatullah My question is regarding the zakat on equity. I had received preferential equity…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/11898"}],"collection":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=11898"}],"version-history":[{"count":4,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/11898\/revisions"}],"predecessor-version":[{"id":11927,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/11898\/revisions\/11927"}],"wp:attachment":[{"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=11898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=11898"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=11898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}