Recent Articles
Where does my zakat contribution go?
Zetrix AI is an official agent of zakat agencies such as PPZ, LZS, PKZP, MAINJ, MUIS, TBS, Zakat MAINPP, MAIAMP, MAIK, LZNK and MAINS. When you pay your Zakat through us, it is directly distributed to eligible asnaf via zakat agencies.
What is the ruling on zakat for cryptocurrency and digital assets?
Cryptocurrency and digital assets that are backed by currency (gold, silver, or fiat money) fall under the category of Currency (as-Sarf), and their zakat ruling is analogized to the zakat on currency. Cryptocurrency and digital assets that are not ...
If there are many types of cryptocurrencies, how should it be handled?
If many type of cryptocurrencies, it should be calculate as below: Formula : [ Units of cryptocurrency and digital assets x current price (at end of haul) ] 1. Calculate for each cryptocurrency owned. Sum up the total 2. Total value of all ...
How is the calculation method for Zakat on cryptocurrency?
Method for Calculating Zakat on cryptocurrency The formula: Units of cryptocurrency and digital assets x current price (at end of haul) x 2.5% = Total Zakat Example: Mr. Ali owns 0.2 units of Bitcoin (BTC) which has met the haul requirement. The ...
What is Zakat on cryptocurrency?
Cryptocurrency refers to a form of currency developed using blockchain and digital technologies. According to the decision of the Selangor State Fatwa Committee meeting held on 17 August 2021, it is deemed harus (permissible) to engage in ...