Zakat on Islamic Government Bonds

[MosesV]

The Pakistani government has offered an Islamic alternative to their government bond. This post by another user on the IFG Forum has some details about it. It is a mudarabah-based certificate and is Called the INPC (Islamic Naya Pakistan Certificate). It is administered by Meezan Bank in Pakistan.

Mudaraba Based Investment Opportunity by Govt/State Bank of Pakistan

Assalamu alaykum wa rahmatullah, I wanted to asked about the permissibility of an investment opportunity currently being offered by the government of Pakistan to both resident and non-resident Pakistani’s. They are marketing this as a mudaraba based investment and from what I have read these are approved by the Shariah Advisory Board of the State Bank of Pakistan (details of its members can be found on their website (I can only include two links in this post!)). My understanding, based on a ne…

How do you calculate the zakat on this seeing as the underlying asset is a government asset (it could be property but we are not sure).

[MosesV]

@Mufti_Billal @Mufti_Faraz_Adam

[Mufti_Faraz_Adam]

Wa alaykum salaam,

Zakat will be due on the entire investment. However, I would contact Meezan bank for confirmation to ensure the Shariah board has the same view.