Assalam Mou Alaykum,
I hope you are well and in good health, I ask Allah SWT to increase us all and give us goodness in this world and the next.
The question I have is, how do I calculate the zakat on my ISA?
I have read the previous thread on this topic but did not completely understand.
Could you please simplify this, as paying zakat on investments as I was unaware of this.
Walykumsalam,
I have same question, a clear explanation with a use case would help.
eg, zakah payable y1, 2 and 3 with 10k initial investment.
jazkallah khair
Wasalam
May Allah bless you.
For stock ISA bought with the intention of capital growth, zakat will be due on its total market value on the zakat anniversary date.
If the stock ISA has been acquired for dividend purposes only, then zakat will be due on 25% of its total market value, and the residual dividend amount on the zakat anniversary date.
I don’t have much details about the ISA offered by Wahed, but @Mufti_Faraz_Adam is their advisor, and can confirm the above.
And Allah knows best!