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Tag Archives: Zakat al-Mal
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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About zakat mal
On October 2014 I sold part of my piece of land, after I put down our house for 40 years to the ground, and I received from the buyer about $200,000. Continue reading