Why I Don't Pay Zakat On Stocks (Mostly)

The Practical Islamic Finance Podcast

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Why I Don't Pay Zakat On Stocks (Mostly)
📌 Video Summary:
We delve into an often-asked question in Islamic Finance: "Do you owe Zakat on stocks?" We're not just repeating mainstream views; we're offering a fresh perspective through ijtihad. If you're serious about understanding Zakat in a way that aligns with both the Qur'an and Sunnah, this is the video for you!
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👉 What You'll Learn:
1. What makes an asset zakatable? We break it down into four core attributes.
2. What did Prophet Muhammad (pbuh) say about Zakat?
3. Do stocks fit the criteria for being zakatable assets?
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🔵 Important Points:
- The topic of Zakat requires ijtihad, as neither Allah (swt) nor His messenger (pbuh) have directly addressed Zakat on stocks.
- We challenge the often-repeated condition that an asset must have "Growth or the potential to grow" to be zakatable.
- What makes an asset zakatable might actually be its "lack of usefulness" or idleness, as opposed to its growth potential.
- We argue that stocks, by contributing to societal growth and business development, are not idle wealth and thus may not require Zakat.
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Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your due diligence before making any investment decisions.