ISB Crypto Donations – Islamic Society of Baltimore

* Zakat Disclaimer: As crypto currency can be volatile, ISB will disburse the amount of zakat equivalent to the value of crypto currency at the time the transaction is settled and received on ISB's end. The donor should track the transaction till the transfer is complete to ensure the crypto value transferred covers the individuals zakat obligation.

Example: Donor sends $1,000 for zakat donation and the donor's Crypto exchange puts a security hold/delay on the transaction; by the time the transaction is cleared and ISB receives the donation, the value of the crypto currency went down and ISB received $950. Therefore, ISB will be responsible for distributing $950. It is recommended to the donor to track the transaction till it settles and pay any gap in their zakat obligation if one exists.

If the inverse happens and the value goes up, ISB will disburse the higher value received at the time of transaction settlement.


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