If the company bank account can pay the Zakah off would that be ok rather than from the shareholders’s personal bank accounts?
Yes it is fine if the shareholders come to such agreement.
According to the AAOIFI Zakat standard:
2/2/1 The institution of the company is committed to pay Zakat under the following cases:
(a) Enactment of an enforceable Zakat law
(b) Stipulation of commitment to pay Zakat in the articles of association.
(c) Issuance of a Zakat commitment resolution by the general assembly
2/2/2 When the institution accepts proxy for payment of Zakat on behalf of all or some of its equity holders or the holders of the investment accounts, funds should be available or submitted by the principals of such proxy for payment of Zakat on their behalf.
And Allah knows best!
30/11/2021
Approved by Mufti Amjad 12th August 2023
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