Is Zakat obligatory on a commercial project, and how is its value calculated, and is it on the partner's share or on the project as a whole?

Zakat is obligatory on trade goods if their value reaches the nisab and a full year (hawl) has passed. The nisab is set at the equivalent of 85 grams of gold or 595 grams of silver. The silver valuation is adopted as it is more beneficial for the poor. The hawl begins from the moment one acquires the capital with which the goods were purchased.

The method for paying Zakat is to appraise the goods at their selling price when the hawl is complete, then to pay a quarter of a tenth (2.5%) of their value.

In the case of companies, if the share of each partner reaches the nisab, Zakat becomes obligatory on that partner. If the share of each partner does not reach the nisab individually, there is a difference of opinion among jurists regarding the obligation of Zakat concerning the effect of commingling (khilta) in categories other than livestock:

The Majority: They hold that commingling does not have an effect, and Zakat is not obligatory unless the share of each partner individually reaches the nisab. The Other Opinion: This view holds that commingling does have an effect if it is a commingling of specific assets (meaning the wealth is mixed, and it is impossible to distinguish the share of each partner), and the shared wealth is considered as a single unit. Thus, if its total reaches the nisab, Zakat becomes obligatory on it. This opinion is more cautious and beneficial for the poor.

Applying the more cautious and beneficial opinion for the poor, the nisab should be estimated using silver. Consequently, Zakat becomes obligatory on the partners if the total of their shares reaches the nisab, even if the individual share of each partner does not reach the nisab independently.