Zakat on DAF Funds
الناشر 26/4/2024
Fatwa ID: DIo1427
Question
Assalamu alaikum.
If I have a donor-advised fund in which I am holding charitable funds to donate in the future, am I still required to pay zakat upon those funds? My understanding is that I no longer have any legal control over that money, although I do have advising privileges.
Also, can I pay my zakat using these DAF funds? I am a little confused about who technically owns this money Islamically. If it is no longer my money, should I not use the DAF to pay my zakat?
Answer
Waʿalaykum al-Salām wa Raḥmat Allah wa Barakātu-h.
In the Name of Allah, The Gracious, The Merciful.
Yes, it will be included in the annual amount
And Allah knows best.
Shaykh Mohammed Amin Kholwadia