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Question ID: 28451
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Salaams

How does one calculate Zakaat if one invests say R10 000 per month into a Shariah compliant unit trust. Lets say I pay my Zakaat on 26th Ramadaan. From last year Ramadaan to this year Ramadaan only the first R10 000 would have been in my possession for a FULL year. Does one calculate Zakaat pro rata or is there a simpler way. The bottom line is that on 26 Ramadaan I will have invested R120 000 of which only the first R10 000 would have been in my possession for the full year.

Salaams

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Asked on September 14, 2008 12:00 am
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You will pay on the current market ralated value of your unit trust at the time of calculation, irrespective whether it was with you for less than a lunar year.
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Answered on September 14, 2008 12:00 am
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