Asalamualaikum! I hope everyone has had a productive Ramadan and are blessed these last few nights.
My question is nearly identical to this one asked several years ago, with a few differences. Rather than reviving an old thread, I’m asking this as a new question.
I am currently investing with Wahed Invest I have one Individual account that is positioned as Moderately Aggressive. I also have one Traditional IRA that is also Moderately Aggressive.
How do I calculate the Zakat owed on my Wahed Invest Portfolio?
I’ve tried reaching out to their Customer Service, but it was not helpful. Their response was:
Please note that for this year, Zakat emails will no longer be sent however, the Zakat Calculator will be available on the Wahed website.
We will let you know once this functionality is available so you can calculate your account.
I have not received any updates from them since. Considering Ramadan is almost over, and many people offer their Zakat during this month, I would have figured the calculator would be available by now, but I was not able to find it on their site.
I’ve received a lot of conflicting information online on how to calculate Zakat for investments, and would greatly appreciate any insight from a qualified individual here.
Bonus points if you can show an example calculation, such as the Individual account currently having $40000 USD and the Traditional Account having $100000 USD.
Jazakallah Khair. May Allah SWT accept from all of us.