FatwaFederal TerritoriesZakat
AL-KAFI #1736 : ZAKAT SIMPANAN BAGI PELABURAN DIGITAL MENGGUNAKAN ROBO-ADVISOR
Is money invested through a digital robo-advisor platform subject to zakat on savings?
Short answer
Money invested through a robo-advisor is subject to zakat on savings once it reaches the nisab, equal to the value of 85 grams of gold, and a full year (haul) has passed.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Federal Territories Mufti Office
- Date
- Status
- Opinion (irsyad)
- Series
- Al-Kafi li al-Fatawi
- Topic
- Zakat
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
Money invested through a robo-advisor is subject to zakat on savings once it reaches the nisab, equal to the value of 85 grams of gold, and a full year (haul) has passed. The investment value is shown in cash form and can be withdrawn at any time, so it is treated as savings. The rate is 2.5% of the total amount. For a more precise calculation and the method of payment, one should refer to the zakat management centre in one's own state.
Written in our own words from the original fatwa — check the source before acting on it.
Jika sekiranya cukup nisab ini dan tempoh simpanan mencukupi haul (genap setahun), maka wajib dikeluarkan zakat simpanan sebanyak 2.5% daripada jumlah wang simpanan tersebut.
Read the full fatwa on the Federal Territories website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Federal Territories Mufti Office. “AL-KAFI #1736 : ZAKAT SIMPANAN BAGI PELABURAN DIGITAL MENGGUNAKAN ROBO-ADVISOR”, 1 July 2020. https://muftiwp.gov.my/ms/artikel/al-kafi-li-al-fatawi/4549-al-kafi-1736-zakat-simpanan-bagi-pelaburan-digital-menggunakan-robo-advisor. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/zakat-on-robo-advisor-digital-investment/