a full nisab in one of them, the appraisal is made in that currency; if the nisab is met in both, the appraisal is made in whichever is more beneficial to the poor—although another view allows the owner to choose. When he possesses both cash and merchandise, the portion that corresponds to the cash is valued in that currency, while the remainder is valued according to the currency that predominates in the locality.

Zakat al-fiṭr is also due for a slave held as trade merchandise, in addition to the zakat on that merchandise, even when the merchandise consists of grazing livestock. If only the nisab for one of the two kinds of zakat is complete, that zakat alone is obligatory; but if the nisab for both is complete, then—according to the new opinion—zakat on the physical asset (zakat al-ʿayn) is required. On this basis, the earlier zakat year is that of the trade goods: for instance, if after six months he uses the trading capital to purchase grazing livestock amounting to a nisab, the sounder view is that the zakat on the merchandise falls due once its year is finished, after which a new year is begun for the zakat on the livestock, and so on perpetually.

If we hold that the investment agent (ʿāmil al-qirād) does not acquire ownership of the profit merely upon its realization, the entire zakat is the responsibility of the investor; should the zakat be taken from the partnership assets, it is, on the stronger opinion, deducted from the profit. If, however, we say that the agent does acquire ownership once the profit appears, the investor must pay zakat on the principal and on his share of the profit, while—according to the authoritative position—the agent is liable for zakat on his own share.