Towards A Unified Zakat System

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The establishment of this duty is conveyed in many placesin the holy Qur'an. According to Yahya (1986), Zakat hasbeen mentioned 59 times in the holy Qur'an. The followingare examples of verses referred to Zakat.And be steadfast in prayer: Give Zakat, and bow down yourheads with those who bow down (in worship).(Qur'an, chapter 2: 43)Of their wealth take alms (Zakat) that so the mightiestpurify and sanctify them; and pray on their behalf.(Qur'an, chapter 9: 103)Eat of their fruit in their season, but render the duesthat are proper on the day that the harvest is gathered.(Qur'an, chapter 6: 141)Various verses in the Qur'an came to establish the duty ofthe Zakat and the teachings of the Prophet (peace be uponhim) explained its roles and principles. Tawrat and theBible have both urged the faithful to give alms (donatedcharity) which is a form of Zakat (Yahya, 1986). In fact,the Qur'an has mentioned that prophet Ismail, Isaac, Jacob,(all of those who preceded Islam) were all ordered to payZakat. Jesus on the other hand has been quoted in holyQur'an as saying:I am indeed a servant of Allah; He has given me Revelationand made me a prophet, and He hath made me blessedwheresoever I be, and hath enjoined on me prayer and Zakatas long as I live. (Qur'an, chapter 19: 30 and 31)102
4.1.1 Goals of ZakatMany Muslim scholars, such as Imam Ahmed, have identifiedthree main goals of Zakat. These goals are religious,social, and economic.4.1.1.1 Religious goalsThe purpose of life, according to Islamic principles, isthe worship of Allah by doing what he asked us to do andrefraining from what he has cautioned us from doing. Allahhas ordered Muslims to confirm that there is only one God,to perform five daily prayers and give yearly alms onwealth. Prayer and fasting are meant to give thanks toAllah for the gift of the body. On the other hand, Zakat isto give thanks for the gift of money (Al-Tayar, 1987). Theperformance of Zakat means, therefore, that the Muslim hasobeyed Allah, which gives the individual the spiritualsatisfaction he/she needs (Sabiq, 1985). Some scholars,like Imam Ahmad, have mentioned that Zakat helpsindividuals to overcome greed which is considered by manyas an unwelcome trait (Al-Fanjari, 1982). In this respect,the Qur'an states:If ye had control of the treasuries of the mercy of myLord, behold, ye will keep them back; for fear of spendingthem: for man is (ever) niggardly. (Qur'an, chapter17: 100).103
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Towardsa unified system ofZakat acc
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ACKNOWLEDGEMENTSIN THE NAME OF ALLA
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PAGINATION ERROR INORIGINALTHESIS
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ContentsPageDeclarationiDedicationi
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4.4.1.1 Zakat on pastoral animals 1
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6.2.5 The percentage of Zakat thats
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List of tablesPageTable 2.1 Economi
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GLOSSARY OF TERMSFai property acqui
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ChapteroneIntroduction
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interest investment model, where th
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egulating Zakat has been employed a
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four countries due to the limitatio
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Co-operation Council, location, cli
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Chapter seven summarises thefinding
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ChaptertwoGeneral background to the
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in the following section, various f
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have an oil-based economy. Its oil
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anking and investment institutions
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2.1.2 KuwaitKuwait is situated at t
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2.1.2.2 Social, Cultural and politi
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Saudi Arabia is a monarchy, with st
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In addition, Saudi Arabia is also p
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important to the everyday life of S
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and the city of Abu Dhabi is the ce
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2.1.4.2 Social, Cultural and politi
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The Omani economy mainly depends on
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In recent years, the government has
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sv2ýJbbQr N m N n O h CC o O n h O
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11 percent in 1995. In Kuwait, the
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general. All countries, except Qata
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with, they all share the same faith
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" Agreement on linking the electric
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2.4 An example of Zakat regulationA
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offices throughout the Saudi Kingdo
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future is uncertain. In trying to s
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Page 77 and 78: Although various Islamic schools an
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Page 113 and 114: deficit for many years. Pakistan an
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Page 117 and 118: economic activities, social and eco
Page 119 and 120: ChapterfourZakat and its position i
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Page 135 and 136: 4.3.2.4 The passage of a yearThe pa
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Page 139 and 140: the total amount becomes due. The d
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Page 145 and 146: Prophet's obligations. The amount o
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Page 153 and 154: amount (2.5 percent). In Saudi Arab
Page 155 and 156: 4.5.2 Department of General IncomeE
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ChapterfiveResearchmethodology5.0 I
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5.2 Research questions5.2.1 Zakat p
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distribution to those deserving it
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egulation, 1988). Companies, using
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5.2.5 Zakat regulationRegulating Za
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capital owners (Article 70).The mea
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authorities and securities regulato
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5.2.8 Variations in accounting meas
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applicability to part of the capita
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then they must be discounted since
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as well as with the standard for th
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5.2.10 Percentage of ZakatWhen Zaka
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5.2.12 Zakat location in the annual
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Zakat payer are added to the profit
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ich. This is what Islam stands agai
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eing to make it Islamic, strong, gr
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the present study would have been p
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a wide geographical area, involving
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The fifth and last part sought the
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academics, government officials, in
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Kuwait. Some individual investors c
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out of 80 (31 percent) and the Unit
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important, or agree to disagree. Th
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KW=12LNNk2 I+ 1) j=1Ellýj-3(N + 1)
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ChaptersixStatisticalanalysisofthes
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analysis of respondents background
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Education and age are not the only
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years. Twenty-three percent reveale
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6.2 Major results6.2.1 Zakat paymen
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Al-Sultan (1997) who argued that Mu
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Department of Zakat, but not to the
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ox. It is highly likely that the re
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to the national banks where the mea
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difference in means is highly insig
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collect and distribute only 1.25 pe
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The ranking of institutions' means
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Firstly, occupation seems to affect
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It was, however, roughly find two f
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collection), as the chi-square stat
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financial statements such as profit
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like to be on the safe side as far
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It is uncontested that the degree o
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espondentsseem to share some doubt
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score to themselves on the suggesti
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statistics were not significant at
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Secondly, Gulf countries have not y
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Table 6.13(b)Reasons behind low lev
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Alms (Zakat) are for the poor, the
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Table 6.14(b) Appointment and pay f
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five out of seven items, suggesting
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discussed earlier remains unchanged
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4.61. The opinion of accounting fir
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6.5 SummaryThis chapter has empiric
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ChaptersevenSummaries,conclusionand
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7.1.2 Chapter twoThis chapter provi
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(profit) with the borrower. Any dea
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countries, Zakat is paid by all tho
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Another advantage is the accumulati
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This survey reveals that almost 40
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of the total Zakat amount due. Over
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Most respondents prefer a partnersh
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measurement and disclosure of Zakat
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measurement be re-defined in such a
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" Non-monetary elements, which incl
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Table 7.1A sample of the recommende
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7.3.2.2 AllowancesThe treatment of
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Zakat at 1.5 percent of the base ra
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Traditionally, Zakat was paid to th
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eason why the survey study covered
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should be set up to at least discus
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BIBLIOGRAPHYAbbas, F. 1988. "Anivar
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Al-Shafi'i,al-Imam, 1987. al-Shafii
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Gambling T. and Abdel Karim, R. 199
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Kuran, T. 1992. The Economic system
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Taylor, T. W., and Evans, J. W. 198
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CARDIFF BUSINESS SCHOOLDirectorProf
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S2. If the answer to question 1 is
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2. To what extent do you agree or d
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i" iii. 5. ijp'ji ý)ij;; -iK.d. 9.
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cycL. oll o: ri >ý_='°9 tMýa5l1
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G, i7'1 °ßi1 5'° C, .. c ýSý y
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e:;.-. roUS pL Ll LLAI L; 111 CIA:
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" Royal Decrees and Orders "
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ZAKAT REGULATIONS (1)Article I: The
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7- For those who do not keep reliab
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No: 17/2/28/8799(»Date: 8/9/1370 H
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No. 1 7/2/28/577Date: 14/3/1376 H19
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Royal OrderTo: Mohammed Sorour -Riy
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No. 6115/1(1)Date: 5/1/1383 H.With
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'Zakat & Income Tax Department Bran
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Kingdom of Saudi Arabia.Ministry of
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Ministry of Finance & National Econ
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Towards A Unified Zakat System

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