Zakat On Islamic Naya Pakistan Certificate (INPC)
Dear Sir, let me elaborate. Ghamdi sb’s well-known opinion is that zakat on investments is 10% of the profit (not 2.5% as you mentioned). So if INPC is an investment then why it would be 2.5% on the invested amount and not on the profit. I am seeking a convincing reply from religious point of view. The best I could get, on another thread, is that if investment is easily retrievable then it will be counted as asset and not the investment. This does not sound very convincing. Let me give an example. If I invest in my brother’s shop and he assures me that I can withdraw my share any time, will I pay 2.5% on the invested amount or 10% on the profit? If it is 10% on profit then how do you distinguish INPC from this scenario. Hope I could clarify this time.