{"id":26364,"date":"2022-10-07T21:29:28","date_gmt":"2022-10-07T21:29:28","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/home\/?p=26364"},"modified":"2022-10-07T21:29:28","modified_gmt":"2022-10-07T21:29:28","slug":"if-you-remortgage-a-property-and-you-have-that-cash-for-investments-work-in-progress-do-you-have-to-pay-zakat-on-it","status":"publish","type":"post","link":"https:\/\/daruliftabirmingham.co.uk\/home\/if-you-remortgage-a-property-and-you-have-that-cash-for-investments-work-in-progress-do-you-have-to-pay-zakat-on-it\/","title":{"rendered":"If You Remortgage a Property and You Have That Cash for Investments\/Work in Progress Do You Have To Pay Zakat on It?"},"content":{"rendered":"<p style=\"text-align: right;\"><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong>Fatwa ID: 06296<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong>Answered by: Maulana Burhaan Rahman<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong><u>Question:<\/u><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">If you remortgage a property and you have that cash for investments\/work in progress do you have to pay zakat on it?<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong><u>In the name of Allah, the Most Gracious, the Most Merciful<\/u><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong><u>Answer:<\/u><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Whatever money or cash you have in possession you must pay zakaah on it. Even though the money you possess goes into work and investments, as long as it reaches the nisab (minimum threshold) you must pay 2.5% of it.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">In Rad Al-Muhtar it mentions:<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\"><strong>(<\/strong><strong>\u0641\u064e\u062a\u064e\u062c\u0650\u0628\u064f<\/strong><strong>) <\/strong><strong>\u0632\u064e\u0643\u064e\u0627\u062a\u064f\u0647\u064e\u0627 \u0625\u0630\u064e\u0627 \u062a\u064e\u0645\u0651\u064e \u0646\u0650\u0635\u064e\u0627\u0628\u064b\u0627 \u0648\u064e\u062d\u064e\u0627\u0644\u064e \u0627\u0644\u0652\u062d\u064e\u0648\u0652\u0644\u064f\u060c \u0644\u064e\u0643\u0650\u0646\u0652 \u0644\u064e\u0627 \u0641\u064e\u0648\u0652\u0631\u064b\u0627 \u0628\u064e\u0644\u0652 <\/strong><strong>(<\/strong><strong>\u0639\u0650\u0646\u0652\u062f\u064e \u0642\u064e\u0628\u0652\u0636\u0650 \u0623\u064e\u0631\u0652\u0628\u064e\u0639\u0650\u064a\u0646\u064e \u062f\u0650\u0631\u0652\u0647\u064e\u0645\u064b\u0627 \u0645\u0650\u0646\u0652 \u0627\u0644\u062f\u0651\u064e\u064a\u0652\u0646\u0650<\/strong><strong>)<\/strong><\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">(It\u2019s mandatory) to give zakah if the money he accumulates throughout the year reaches the minimum threshold, but he doesn\u2019t need to give it immediately.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">So this means however your investments work whether:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">The full money is invested \u2013 you get the yield of it soon and 2.5% is to be paid from the yield.<\/span><\/li>\n<li><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Or invest part of the money \u2013 the non-invested money if there\u2019s enough from that, can be used for zakaah.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Only Allah knows best.<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Written by Maulana Burhaan Rahman<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Checked and approved by Mufti Mohammed Tosir Miah<\/span><\/p>\n<p><span style=\"font-family: verdana, geneva, sans-serif; font-size: 12pt;\">Darul Ifta Birmingham<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fatwa ID: 06296 &nbsp; Answered by: Maulana Burhaan Rahman &nbsp; Question: &nbsp; If you remortgage a property and you have that cash for investments\/work in&#8230;<\/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":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/26364"}],"collection":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=26364"}],"version-history":[{"count":2,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/26364\/revisions"}],"predecessor-version":[{"id":26379,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/26364\/revisions\/26379"}],"wp:attachment":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=26364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=26364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=26364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}