Towards A Unified Zakat System

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6.14(a) for the appointment of the SSC suggests disagreementfrom the respondents. From examining the table it is,however, seen that the significance is due to the relativelylow score given by the academics, with a mean of 3.77, whilethe other three occupation groups have a mean of around4.50. Interestingly, the academics were not in favour ofcompanies doing this job either and, therefore, the onlyinterpretation is that, while academics agree to theproposition that government should be involved, the level oftheir agreement is not as high as that of the other threegroups. Perhaps academics would prefer a joint involvementof both companies and government in the appointment of theSSC.A similar result is obtained on the question of the SSC'ssalaries. Again, the significant chi-square seems to becaused by the very low score from the academics, with a meanclose to 3. By a comparison of the two mean scores byacademics (companies and government) it is found that theyare almost equal. Again this suggests that academics mightprefer a shared responsibility in paying the SSC.247
Table 6.14(b) Appointment and pay for Shariah supervisory committeeWho should Freq. Mean Rank Sub-group means by country SD MIN MAX Chi-sq P. valueappoint shariaadvisoryandBA KU SA UAEsupervisoryCommittee?Companies 159 2.74 2 2.90 2.76 2.88 2.42 1.09 1 5 6.17. 104. 895 1 5 1.54 . 673Government 159 4.26 1 4.18 4.15 4.41 4.23Who should paySharia advisoryand supervisorycommittee?Companies 159 3.30 2 3.42 3.19 3.40 3.18 1.13 1 5 1.53Government 159 3.82 1 3.79 3.92 3.84 3.73 1.15 1 5 1.43BA= Bahrain KU= Kuwa it SA= Saudi Arabi a UAE= United Arab Emirates. 675. 698Table 6.14(b) reveals no difference between nationalities intheir opinions about appointing and paying the SSC. Bylooking at the mean scores, however, it is shown thatrespondents are strongly in favour of appointments made bythe government (while disagreeing with appointments made bycompanies). On the other hand, the opinions about paymentare not so clear cut. The mean scores for companies andgovernment are 3.30 and 3.82 respectively. Thus, it seemsthat the respondents would like to see companies paying atleast a part of the SSC salaries.6.4.3 Potential benefits from Zakat implementationZakat is the backbone of an Islamic economic system. It ispaid in fulfilment of a religious duty. Zakat is used tohelp solve some aspects of poverty and misery. Zakat is aresponsibility towards society and the needy, and it is paidto comply with Allah's command. Moreover, Zakat helps inmaintaining social solidarity amongst Muslims. It lessens248
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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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Zakat system supposedly to be appli
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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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Page 219 and 220: KW=12LNNk2 I+ 1) j=1Ellýj-3(N + 1)
Page 221 and 222: ChaptersixStatisticalanalysisofthes
Page 223 and 224: analysis of respondents background
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
Page 235 and 236: ox. It is highly likely that the re
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: Alms (Zakat) are for the poor, the
Page 271 and 272: five out of seven items, suggesting
Page 273 and 274: discussed earlier remains unchanged
Page 275 and 276: 4.61. The opinion of accounting fir
Page 277 and 278: 6.5 SummaryThis chapter has empiric
Page 279 and 280: ChaptersevenSummaries,conclusionand
Page 281 and 282: 7.1.2 Chapter twoThis chapter provi
Page 283 and 284: (profit) with the borrower. Any dea
Page 285 and 286: countries, Zakat is paid by all tho
Page 287 and 288: Another advantage is the accumulati
Page 289 and 290: This survey reveals that almost 40
Page 291 and 292: of the total Zakat amount due. Over
Page 293 and 294: Most respondents prefer a partnersh
Page 295 and 296: measurement and disclosure of Zakat
Page 297 and 298: measurement be re-defined in such a
Page 299 and 300: " Non-monetary elements, which incl
Page 301 and 302: Table 7.1A sample of the recommende
Page 303 and 304: 7.3.2.2 AllowancesThe treatment of
Page 305 and 306: Zakat at 1.5 percent of the base ra
Page 307 and 308: Traditionally, Zakat was paid to th
Page 309 and 310: eason why the survey study covered
Page 311 and 312: should be set up to at least discus
Page 313 and 314: BIBLIOGRAPHYAbbas, F. 1988. "Anivar
Page 315 and 316: Al-Shafi'i,al-Imam, 1987. al-Shafii
Page 317 and 318: Gambling T. and Abdel Karim, R. 199
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Kuran, T. 1992. The Economic system
Page 321 and 322:
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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