Use interest money to pay bribes, bank charges, taxes : cam interest money be given as Zakah ?

Fatawa Question

Dear Prof Dr. Kahf, Assalamualaikum Warahmatullahi Wabarakatuh, Ramadan Kareem, I pray that you and the family are all well by the grace of Allah. I wish to inform you that the article was published in two local newspapers here. Some people responded and wanted more details. We hope that it could be debated and the government will InSha Allah allow deduction of Zakah from CSR. I have two inquiries to ask, 1. Some people are saying that interest money can be give as Zakah. According to my knowledge, it could be given as a charity and except no reward from it. But to use it for Zakah payable is not correct. Technically, it one earns interest from his bank account, the money is put aside for charity, and Zakah is computed on his wealth. Can you kindly enlighten me on this matter ? 2. Can we estimate the amount Zakah for Mauritius ? Population : 1.3 Million Muslim percentage : 18 % GDP : $ 9.156 billion (official exchange rate) I recalled from my lecturer many years ago that we use this formula. Muslim share of the GDP : 9.156 * 18 % = 1.648 billion 1.648 * 1 / 8 = 206 million 1 / 8 : I do not remember what the 1 / 8 represents ? Or is this correct. Jazak Allah Khair, Munir

Fatwa

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Publication Date

2010-08-15

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Money
• Taxes
• Alms tax
• Bribery
• Usury
• Payments

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-730454

• APA
• MLA
• AMA