Fatwa ID: 06912
Answered by: Maulana Burhaan Rahman
Question:
If someone had purchased something e.g. house, land, shares with the intention that he will sell in the future but not at the moment maybe 5 to 10 years down the line, would that be regarded as mal e tijarat?
In the name of Allah, the Most Gracious, the Most Merciful
Answer:
If anyone has the intention of selling any commodity/item etc. that will be classed as “assets for business” (maal al tijaarah or uroodh al tijaarah) whether it’s sold now or after 5/10 years. On an extra note; as soon as you start doing business on the items/commodity/assets, zakaah will be deducted from the earnings.
It is mentioned in Fiqh Al-Islmaami wa adillatihi (page 133/134) the definition of maal (uroodh) al tijaarah:
الممتلكات المعدة للتجارة؛ من الأمتعة والأطعمة، والثياب والزروع والثمار، والحبوب والعقارات، وكل ما عدا الذهب والفضة والنقد
Property intended for trade; of essentials, foods, clothing, crops, fruits, grains, real estate, and everything except gold, silver, and cash.
Only Allah knows best.
Written by Maulana Burhaan Rahman
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham