1. Ask A Question About Islam And Muslims
  2. Ask A Question About Islam And Muslims

Ask A Question About Islam And Muslims

92 Questions

My first Khums date is July 22. Do I need to pay Khums on savings made since September 2024 before buying gold jewelry for my wedding? Should I consider all funds in my account, including recent deposits? How are older unused scholarship funds impacted?
Sayyed Mohammad Al-Musawi

Khums is obligatory on everything you lawfully own, on the date of your Khums, if it is not in use for your day to day life requirements. There is Khums on items you have purchased and started using like jewelry, clothes, car, house where you live, etc.

Wassalam.
I have invested in multiple funds and I can see the progress of my investments on the trading platform. But at that point, this is not really money in my hands, it is just the perceived gain or loss. How do I pay Khums on any such unrealized gain?
Sayyed Mohammad Al-Musawi

You need to take the value of your investment on the date of your Khums as your ownership.

Wassalam.
Is investing in gold Exchange-Traded Funds (ETFs) allowed? Additionally, how should Khums be calculated on this investment, especially considering asset value fluctuations that could lead to an unrealized profit or loss in subsequent years?
Sayyed Mohammad Al-Musawi

Investing in gold exchange is permissible if it does not involve any type of unlawful transaction like usury etc. Khums's must be calculated according to the price on the day of your date of Khums. 
'Wassalam.
As a student with 50,000 rupees in savings, of which 35,000 is loaned out and uncertain to be repaid soon, I want to understand if I am required to pay Khums only on the remaining 15,000 rupees or also on the loaned amount?
Sayyed Mohammad Al-Musawi

Loaned amounts do not belong to you as you has borrowed it from others, so, Khums is not obligatory on you for any amount which is not owned by you. Whatever you own on your date of Khums is to be calculated by you in your Khums.

Wassalam.