Towards A Unified Zakat System

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ChaptersixStatistical analysis of the survey study6.0 IntroductionChapter six discussed the process used to obtain theresearch data, and provided an overview of the statisticalprocedures employed in handling the data for subsequentanalysis and interpretation. In this chapter, the results ofthe empirical investigation are presented, analysed andinterpreted. Data were analysed according to thestatistical methods outlined in the methodology chapter.This chapter proceeds as follows. While section 6.1discusses the personal characteristics of respondents,section 6.2 comprises the discussion of the major findings.Section 6.3 discusses the suggested method for <strong>Zakat</strong>accounting, and section 6.4 presents furtherrecommendations. The last section (6.5) concludes thechapter with a brief summary of the main findings.6.1 Personal characteristics of respondentsThis section presents the personal characteristics of therespondents. Each respondent was asked Five basic questionsrelating to age, nationality, level of education, jobposition and length of previous and current employment. The201
analysis of respondents background is provided in table6. la.It can be seen from table 6.1a that more than 67 percent ofthe respondents were between 30-50 years old. The tablefurther reveals that 21 percent of the respondents are lessthan 30. Only 1 percent of the respondents was found to beabove 60 years of age. Given that the majority ofrespondents are more than 30 years old, this will givecredibility to their answers because of their high level ofexperience and maturity. Table 6.1a also reveals that allrespondents are nationals of the countries surveyed whichstrengthens the validity of the questionnaire as allrespondents are directly concerned with the subject of thesurvey. The distribution of respondents among the fourcountries is fairly proportionate in order to make thesample more representative of the population of study. Thelargest country (Saudi Arabia) is represented by themajority (30 percent) of the respondents, while the othersmaller countries are represented by 25 percent (Kuwait), 24percent (UAE) and 21 percent (Bahrain) respectively. As thepresent study is more concerned with obtained informedopinion, education of respondents is of paramountimportance. Table 6.1a shows that more than 91 percent ofthe respondents hold a bachelor's degree or above with theother 9 percent holding a relevant diploma and high school202
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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
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Although various Islamic schools an
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Muslim countries such as Pakistan a
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This definition also suffers from s
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elationship that a human being must
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The search for lawful wealth is reg
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from place to place and from time t
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Movement towards greater economic a
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3.4.5 Freedom of ownership and acti
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Public ownership is also recognised
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ates in his Code and suggested the
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These last verses clearly show that
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orrower for the period of time the
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choose and what maximises their uti
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eliminated at the outset in Islam.
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aspect of self-interest he or she s
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it can be said that an Islamic gove
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certain circumstances not. to cance
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3.9 Islamic Economics in Practice.A
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deficit for many years. Pakistan an
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It was argued that the goal of well
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economic activities, social and eco
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ChapterfourZakat and its position i
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Although these methods are currentl
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4.1.1 Goals of ZakatMany Muslim sch
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them to contribute positively to th
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een distributed to non-profit Musli
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sectors of the Sunni Islamic sect,
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4.3.2 WealthThe teachings of the pr
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Islam without regard to any debt on
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4.3.2.4 The passage of a yearThe pa
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oken bones, or gouged eyes (Joan, 1
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the total amount becomes due. The d
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example,today is the date that Zaka
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this item should be considered as p
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Prophet's obligations. The amount o
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4.4.4.2 Starting point of Zakat dut
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such as income earned from practisi
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There is a widely known view of Mal
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amount (2.5 percent). In Saudi Arab
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4.5.2 Department of General IncomeE
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He further describes some condition
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year. Zakat is payable on both the
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through proper channels of the Prop
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therefore, make a list of the avera
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unrealised profits should be net of
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Balance Sheet 31-12-19X230-12-XXX13
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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
Page 177 and 178: distribution to those deserving it
Page 179 and 180: egulation, 1988). Companies, using
Page 181 and 182: 5.2.5 Zakat regulationRegulating Za
Page 183 and 184: capital owners (Article 70).The mea
Page 185 and 186: authorities and securities regulato
Page 187 and 188: 5.2.8 Variations in accounting meas
Page 189 and 190: applicability to part of the capita
Page 191 and 192: then they must be discounted since
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Page 195 and 196: 5.2.10 Percentage of ZakatWhen Zaka
Page 197 and 198: 5.2.12 Zakat location in the annual
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Page 201 and 202: ich. This is what Islam stands agai
Page 203 and 204: eing to make it Islamic, strong, gr
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Page 207 and 208: a wide geographical area, involving
Page 209 and 210: The fifth and last part sought the
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Page 213 and 214: Kuwait. Some individual investors c
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Page 221: ChaptersixStatisticalanalysisofthes
Page 225 and 226: Education and age are not the only
Page 227 and 228: years. Twenty-three percent reveale
Page 229 and 230: 6.2 Major results6.2.1 Zakat paymen
Page 231 and 232: Al-Sultan (1997) who argued that Mu
Page 233 and 234: Department of Zakat, but not to the
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Page 237 and 238: to the national banks where the mea
Page 239 and 240: difference in means is highly insig
Page 241 and 242: collect and distribute only 1.25 pe
Page 243 and 244: The ranking of institutions' means
Page 245 and 246: Firstly, occupation seems to affect
Page 247 and 248: It was, however, roughly find two f
Page 249 and 250: collection), as the chi-square stat
Page 251 and 252: financial statements such as profit
Page 253 and 254: like to be on the safe side as far
Page 255 and 256: It is uncontested that the degree o
Page 257 and 258: espondentsseem to share some doubt
Page 259 and 260: score to themselves on the suggesti
Page 261 and 262: statistics were not significant at
Page 263 and 264: Secondly, Gulf countries have not y
Page 265 and 266: Table 6.13(b)Reasons behind low lev
Page 267 and 268: Alms (Zakat) are for the poor, the
Page 269 and 270: Table 6.14(b) Appointment and pay f
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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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