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Tag Archives: savings
Zakat on savings of less than a year
Is Zakat applicable on savings that has been in the bank less than a year. Continue reading
Posted in Zakat & Sadaqah
Tagged savings, Zakat al-Mal
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Zakat al-Mal on 401K or IRA?
Does one pay Zakat al-Mal on the money invested in a retirement 401K or IRA? Continue reading
Posted in Zakat & Sadaqah
Tagged 401k, access to money, debt, investment, loan, nisab, retirement plan, savings, wealth, zakat, Zakat al-Mal, zakatable savings
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Zakaat
A brother and sister would like to know how much the amount of zakat is eligible to be paid for the following: Continue reading
Registered Education Savings Plans
Is it permitted in Islam to have a “Registered Education Savings Plans”? Is it a “riba”? Continue reading
Posted in Family Issues
Tagged registered education savings, riba, savings
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Will and inheritance issues
We live in North America. When we bought our house many years… Continue reading
Posted in Family Issues
Tagged inheritance, Islamic will, savings
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Intention for Past Due Zakat
If a person has not paid zakaat for some specific year and now he wants to pay that zakaat but he does not remember what exact… Continue reading
Posted in Zakat & Sadaqah
Tagged commodities, destitute, due, equal, equivalent, estimate, estimation, exact amount, expenses, family, income, minimum, money, obligation, obligatory, organization, paid, past, pay, person, poor, possession, profit, reward, sadaqa, savings, shortfall, year, zakat
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Interest received on savings account with bank
Q: In what ways can we use the money received as interest on a savings account with bank. Continue reading
Posted in Halal & Haram
Tagged interest, riba, savings
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Prayer Request: Silver Coins – Seized by UK Customs
I am trying to follow MSN’s (May Allah give him long, healthy life) and converting my savings into silver. Continue reading
Posted in Prayer Request
Tagged conversion, customs, interview, savings, silver
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Permissibility of Bank Account
Can one have a bank account? Continue reading
Posted in Halal & Haram
Tagged bank, checking, savings
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police & silver
salaams we have had serious problems with police over silver we had bought.. our home was searched all our silver and life savings taken by them. They took my wife to police station for questioning and then me. Continue reading