AA:
My father purchased some mutual funds more than 40 years ago (let us assume at 10 each). He passed away in 1992 but these mutual funds were not distributed among inheritors at that time. Now these funds have been sold (let us say at 70 each) and money distributed among inheritors. Question is:
- Since it is inheritance, do we need to purify?
- If yes then how much, assuming these funds had 20% of non-sharia compliant assets and 5% of income from interest bearing accounts/loans? If amount I received is 10,000 then what percent of that will need to be given as Sadaqah?
Jazak Allah Khaira
Wasalam
May Allah bless you.
How much percentage of income did the 20% haram assets generated?
Kind regards
That is where I am stumped. How do I determine that based upon the situation described?
Note: Can I assume that answer to my first question is “No” and purification is needed?
JKK
Since the value of fund increased from 10 to 70, can I say that 20% of 60 (70-10) is to be given away?
AA:
I hope my question does not get buried in all the other questions. Waiting to hear back. Does below method work?
“Since the value of fund increased from 10 to 70, can I say that 20% of 60 (70-10) is to be given away?”
JKK.
Yes purification is a must since we know that there was some sort of haram revenues in the fund.
The 5% of income from interest must be given away as well as the income you have received from the 20% of the non shariah compliant assets.
How much should you give must be determine by yourself. If you can find out an approximate number by looking at the old statements then its good. If you can’t have access to the statements or there is no one to assess you in doing the calculation, then make an honest estimate of an amount which you are content with in your heart.
And Allah knows best!
Jazak Allah Khairan Mufti Billal.
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