['Aalim Network QR] Khums on RRSP/Mutual Funds

[Mustafa Rawji <mrawji@sciborg.uwaterloo.ca>]

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Salaamun alaykum,

	The following question on Khums was kindly answered by Dr. Takim.

Wasalaam,

Mustafa Rawji
Moderator, ABDG-A


QUESTION:

Salaam Alaikum. I have a question regarding khums and need the answer as 
per Aytl. Khui.

If my due date for khums is in July and I put all my money in a certificate
of deposit account or in mutual funds before July which is not available 
for withdrawal for over an year or more, do I have to pay Khums for that 
money?

For example, I put $5000 on deposit and the Khums due (if due) should be 
$1000. I earn some money until July but none of it is for saving and not 
enough to cover the thousand. Do I have to pay that $1000 or is it due 
when the account matures? 

Wasalaam. 


ANSWER:

Salaamun 'Alaykum

 	The general principle is that you do not have to pay khumus for money
which is locked up in an RRSP or in mutual funds. WHen it matures and the
due date arrives, then you will pay the khumus accordingly. 

Iltimase du'a 

Liyakatali