Deductions from Zakatable total : insurance, deduction of debts from Zakatable items and mortgage

السؤال

As-Salaam-Aleikum, My name is Shabbir and I live in Canada. I would be very grateful if you could please advise me whether insurances such as life and medical are allowed in Islam. Secondly, on the issue of Zakah, if say in 2005 my cash balance in the month of Ramadhan was 30,000 and my debts were 10,000 and I paid Zakah on 20,000.00, what will be the Zakaaat payable in the month of Ramadhan of 2006 when my cash balance has increased to say 40,000 from 30,000 but my debts of 10, 000 have remained the same. In other words my net worth has increased by ten thousand. Third, is it permissible for one to buy a house on mortgage for personal use ? Your favorable response will be greatly appreciated. Jazaak-Allah your brother in Islam

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2006-10-06

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-792333

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• AMA