The following are excluded from Zakat liabilities:

(1) Capital:
The amounts invested for the start and maintenance of business upon the incorporation.

(2) Reserves:
The amounts withheld from profits for the purpose of meeting any future circumstances whether these are optional or obligatory, public or secret, or from the capital or revenues.

(3) Withheld profits:
The amounts carried forward from the present or previous year’s profits to the following years.

(4) Issuance premium:
those amounts resulting from the subscription price and the new nominal value of shares, after deducting the expenses of issuance.

(5) Minority equity:
The shareholders’ equity in the subsidiary companies which appear on the statements of principal company.

(6) Losses:
The payments, which are not met with revenues, belonging to the present or previous periods.

(7) Accrued interests:
Whether they are on long-term loans or short-term loans or overdraft.

(8) Profits intended for distribution:
The profits announced by the board of directors as intended for distribution in a later date, and concerning which the shareholders assembly has not yet taken a decision.