زكاة صناديق الاستثمار : دراسة تطبيقية على صناديق الاستثمار المتخصصة في الأسهم في السوق المالية السعودية

Abstract EN

The aim of the paper is to estimate the zakat of equity funds in the Saudi stock market based on two fiqh rulings: the prevailing ruling that imposes zakat of trade merchandise on the value of all fund units, and the alternative ruling that links the fund zakat to the action of the fund manager in trading the fund components and whether or not zakat has already been paid on those components.

The paper utilized the data of 32 equity funds on Saudi Exchange during 2021 and found that the estimated turnover ratios of equity funds support the alternative fiqh ruling.

The results are preliminary as they are based on a set of assumptions to estimate the turnover ratios.

Based on the results, the paper suggested four options for imposing zakat on equity funds and proposed a new formula to calculate the turnover ratio of equity funds.