Home Zakat Information 13.5 Deposits and Pledges
13.5. Deposits and Pledges
AddThis Social Bookmark Button

 

A Zakat-able asset (e.g. gold coins) which is pledged to a creditor as security for a loan is not subject to Zakat because the owner (pledgor) is deprived of possession and therefore cannot dispose of the asset for the duration of the pledge for his own benefit. Similarly, a deposit paid by a tenant under a lease to a landlord as security for the fulfillment of the tenant's obligations is not subject to Zakat. The same principles would apply to other forms of deposits, e.g. electricity.

 

<<Prev
13.4 Products not of
productive nature
Next>>
13.6 Other assets exempt
from Zakat

 

 

Sitara-e-Isaar Awarded to Hidaya Foundation

The sister organization of Hidaya Trust, Hidaya Foundation was awarded Sitara-i-Eisaar (Star of Sacrifice) by the Government of Pakistan, in recognition of the results-oriented relief efforts of both the organizations during the 2005 earthquake in Pakistan. It was awarded during a special ceremony held at the Embassy of Pakistan in Washington, DC.

In Keeping with our commitment to the communities in which Hidaya Trust operates, it hires its work force as an equal opportunity employer.  It means that employment decisions are based on merit and business needs and not on race, color, status in the society, ancestry, sex, age, religion, creed and marital status.