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Seminar 2008

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Annual Seminar 2008
How is Zakat paid on a bank account with fluctuating balances? Print E-mail
Question:
How is Zakat paid on a bank account with fluctuating balances?


Answer:
Zakat is to be paid on an average amount. For example, if the balance at the beginning of the year was £100 and at the end of the year it was increased to £1500, the Zakat would be payable on £1250, which is the average.
 
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