Towards A Unified Zakat System

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uilding of schools, roads, bridges, and many other typesof public projects that can benefit fellow Muslims (Sabiq,1985; Al-Qaradawi, 1986).The eighth and final type of beneficiaries is a wayfarer(traveller) who does not have enough money to get backhome. These people are to be given enough money toguarantee safe passage to their homes and financialresources (Sabiq, 1985; Al-Qaradawi, 1986).4.3 Entities and wealth subject to ZakatHaving defined Zakat and identified the main beneficiariesof its proceeds, attention is now turned to those whoshould pay Zakat and the characteristics of wealth subjecttoZakat.4.3.1 EntitiesZakat is a duty that is only obligatory on persons. It isalso an obligation on entities, in that certain entitiesrepresent the interests of real persons. According to allMuslim jurisprudence, Zakat is an obligation on Muslims whoare free, adult (of a certain age) and possess a specifiedlevel of wealth (Sato, 1987). By a consensus of the four108
sectors of the Sunni Islamic sect, Zakat is not anobligation on non-Muslims (Sabiq, 1985). The majority ofjurists do consider, however, that the obligation extendsto both the insane and non-adult Muslims (Sabiq, 1985;Al-Qaradawi, 1986). This consideration is based on the viewthat Zakat is an obligation on wealth and not onindividuals. The argument of those who drop the obligationon the wealth of the non-adult and the insane is based onthe premise that all religious actions should be precededby intention and the intention of those people istemporarily suspended (Al-Qaradawi, 1986). It seems thatthe first groups' argument is stronger since it issupported by the Prophet's saying that:Those who become responsible for an orphan should trade onhis behalf so that Zakat will not eat it off. (Al-Qaradawi,1986, cited in Sabiq, 1985: 375)In the case of partnerships and corporations, the issue iswhether the partnership and the corporation should payZakat on behalf of the shareholders or leave that toindividual shareholders who should assess, at the end ofthe year, the market value of their shares and theirportion of the profits and pay Zakat accordingly. In thecase of partnerships, it is easy to separate the accountsof each partner, therefore it should be left to them to109
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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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ChapterthreePrinciples of Islamic E
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and equitable distribution of incom
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has two main sources: primary and s
Page 77 and 78: Although various Islamic schools an
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Page 87 and 88: from place to place and from time t
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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
Page 121 and 122: Although these methods are currentl
Page 123 and 124: 4.1.1 Goals of ZakatMany Muslim sch
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Page 127: een distributed to non-profit Musli
Page 131 and 132: 4.3.2 WealthThe teachings of the pr
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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
Page 147 and 148: 4.4.4.2 Starting point of Zakat dut
Page 149 and 150: such as income earned from practisi
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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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Page 169 and 170: literature behind the selection of
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Page 173 and 174: ChapterfiveResearchmethodology5.0 I
Page 175 and 176: 5.2 Research questions5.2.1 Zakat p
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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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