Q: I am looking at the page for Zakat on shares (here) specifically at Shares on which Zakat are not due – Non-Muslim owned shares. I have some shares in a large multinational company whose owners/ CEO are not Muslim, does the statement above mean I do not need to pay Zakat on these shares?
A: You will pay Zakat only on the shares that you yourself own in a company and not on someone else’s shares. This is irrespective whether they are Muslims or not. For example if you have 100 shares out of 500 shares in company A, then your Zakat is due on your 100 shares only. If the remaining 400 shares are owned by Muslims then they will each be responsible for their own Zakat on the amount of shares they each other own.
And Allah knows best
Approved by Mufti Amjad 12th August 2023
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