At Zoya, we're committed to empowering Muslims around the world to take control of their financial future while staying true to their faith. As the trusted source for over 100,000 Muslim investors worldwide, Zoya is dedicated to making Shariah-compliant investing accessible and stress-free.
Wow!! This is incredible. Especially love the integrations with all the top platforms. May Allah SWT make this endeavour successful, insha’Allah
Assalamu’alaikum warahmatullahi wabarakatuh
Masha Allah Tabarak Allah this is incredible. However is there an option to allow us to input our portfolio manually? Because I’m in the UK and my broker (Freetrade) isn’t available as an integration (and neither are other popular UK brokers like Trading212 etc.)
Walaikum Assalaam Khalil,
If you’re looking to load in your own information, you can use the web version of the Zakat Calculator check it out here. It follows the same calculations as the in-app one, but you won’t be able to take advantage of the streamlined donations features. In the meantime, we’re working really hard to increase our coverage of brokerages, and the UK is at the top of the list.
Wa alaykum assalaam warahmatullahi wabarakatuh Farhan
BarakAllahu Feeka that’s absolutely amazing. May Allah reward you all at Zoya for your service to the community.
I look forward to the UK additions as well Inshaa Allah.
This is awesome.
It’s clean, efficient and easy to use.
The web version allows you to manually upload a csv file with shares from different international exchanges. I noticed that the Johannesburg Stock Exchange (JSE) isn’t supported.
Would it be possible to add support for the JSE ?
Otherwise, wonderful work. Shaved hours off my usual zakah calculations.
Thanks for the feedback brother!
We’re always adding working to increase our coverage and building around insights from Zoyans. To help our team prioritize the next steps of Zoya’s development, I encourage you to begin a discussion about JSE in our product suggestions category.
I just tested it and it was a snap
(1) Linked to a Schwab account. Went through with the Plaid auth. Select one account from within it
(2) It synced within seconds and showed account details
(3) Calculated Zakhat was few seconds at best
Very clean interface and snappy. Love it. and the connection to donations as well.
Well thought out! Kudos to the Team Zoya!
Quick questions
(1) is the tool computing Zakhat for passive stock investments using the 30% ruling or actually using current assets * ownership % ?
(2) If i had several accounts (401K, IRA, taxable) - could i link each and the tool would show Zakhat per account and then roll it up?
Thanks for the feedback! Very helpful for our team.
With regard to the questions
We calculate the percent ownership of your shares and multiply that by the current assets of the business. ETFs and mutual funds require the recursive application of this calculation to their holdings with a weighted aggregation at the end. Scholars have approved the use of taking 30% of the current market value of a stock or fund as an approximation for current assets, so we do that when the information is not available.
Yes, with Zoya Pro, you can connect multiple accounts.
Salam
I tried two ETF tickers: VOO and SPY
Both Zakah calcs assumed current assets to be 30% of the current market value.
Is the functionality still limited for ETF’s? VOO is a popular one and I was surprised to see that the recursive application for underlying assets was not used.
The service that does recursive calculation of fund holdings was down for maintenance. It should be restored in a few hours.
Hi Saad,
Does the same recursive calculation work for individual stocks from a linked account (vs using 30%?)
thanks
Adib
Yes, we always attempt to apply the current assets based calculation method by default for both stocks and funds and only use the 30% rule as a fallback.
Assalamualakum! I recently got on the app (after hearing about in a Sh. Joe Bradford class) and I love it. I recently loaded a 401K account in order to calculate zakat and it looked like “30% rule” was being used to calculate the zakat liable amount. Could you provide more information on this rule? I couldn’t find much after many searches via sh. google 
JazakAllah!
Can you explain why Zoya did not adopt the AAOIFI zakat method, in which certain liabilities are subtracted from the zakatable assets?
Hello Saad,
Eid Mubarak!
I am playing with the Zoya Zakat calculator Zoya
I assume that is the most recent one. Let me know if not.
I entered my portfolio manually one by one. I want to report some odd findings.
For ELV, the Zakat liable amount was almost equal to the holding value. ( I expected max 30%)
For OMC, the Liable amount > holding value
For BK, Liable amount was 2x holding value
Many others the liable amount was more than 30% than holding value…
Is this as expected?
thanks
Adib
The 30% rule you’re referencing is a simplified estimate of zakatable assets that scholars have allowed to make calculation easy so you don’t have to dig through the financials of each company. It’s just a proxy.
Zoya calculates the actual zakatable portion by looking at the company’s most recent financials, specifically its current liquid assets (cash, receivables, inventory, etc.), and then applying your ownership proportion.
In some cases, it can even exceed the market value of your holding, as you noted. That usually happens when a company’s current assets is higher than its market cap (e.g., banks, cyclical businesses, or distressed/undervalued companies).
Eid Mubarak!
thanks for such a prompt reply Saad!!
Do you use Current assets or some variation of Current assets?
I read somewhere for financials, you may need to consider liquid cash and cash equivalents instead. OMC in my example is not a financial but an ad agency but temporarily its Current assets is $27B ( more than the Market Cap). Another view was to use (Current Assets minus Current Liabilities) to account for company short term debts. I am just researching and its such a complex topic with so many scholarly views.
Appreciate what you have built for the community!
Do you use Current assets or some variation of Current assets?
Yes, we use Current Assets straight from FactSet which includes cash and equivalents.
Another view was to use (Current Assets minus Current Liabilities) to account for company short term debts.
It’s been an ongoing discussion with our Shariah board too but no resolution yet.
Even that method may encounter issues as there are companies with negative working capital. Example MCK Current assets $60B . Current Liabilities $68B. Market Cap $107B.
I wonder if the 30% should be an upper bound for the zakatable value? or thats mixing two paradigms for one’s convenience/ benefit…
