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Question ID: 30649
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I migrated to Canada almost 03 years back and have some savings ( My property sale) kept in Islamic banking on Profit & Loss Basis in Pakistan for the last one year and whatever profit is transfered into my account meets our (my wife and myself), pocket expences as all other expences are taken care by our son (Alhamdul Allah). Do I have to pay Zakat on my Total savings in the Islamic Bank or do I calculate the total profit I received during this year and pay Zakat on this profit.

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Asked on September 14, 2008 12:00 am
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If you have suffices above the 'Nisab' then you are liable to pay Zakaat, otherwise not.
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Answered on September 14, 2008 12:00 am
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