Towards A Unified Zakat System

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CARDIFF BUSINESS SCHOOLDirectorProfessur Ro_er \'lanstiddMA PhD\IÜktIe Fast Bankin_ & AccuuntinaR' irch Gn, up t \IEBARG,Co-Onlin tior Dr Kaumal Na>cr BA \1SL I'hD.. dUNIVERSITY OFCARDIFFCardin' Business SchoolAherconwav Building,Colum DriveCardiff CFI 3ECýUnited KingdomFax (() 1 22) 874419 Telex: 498635Tel (0I 22) 874000TO WHOM IT MAY CONCERNDear Sir,Mr Abdullah AL-Utaibi is a full time PhD student at Cardiff Business School andundertaking a research entitled "<strong>Zakat</strong> Calculating in the Gulf Co-operationCouncil Countries"Mr Al-Utaibi is making progress with his PhD research and I believe that he will makean important contribution to the understanding of <strong>Zakat</strong> Calculation in the Gulf Co-operation Council Countries. This can only be achieved with your co-operation.Hence, I would certainly appreciate your support and collaboration in answering hisquestionnaire. You will be interested in the result of the questionnaire.May I emphasise that all individual information is treated in strict confidence andreplies are coded so that unauthorised personnel cannot access this information.I appreciate your co-operationYour sincerelyDr Kamal NaserThesis SupervisorUniversity of Wales College of Cardiff
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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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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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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
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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
Page 319 and 320: Kuran, T. 1992. The Economic system
Page 321: Taylor, T. W., and Evans, J. W. 198
Page 325 and 326: S2. If the answer to question 1 is
Page 327 and 328: 2. To what extent do you agree or d
Page 329 and 330: i" iii. 5. ijp'ji ý)ij;; -iK.d. 9.
Page 331 and 332: cycL. oll o: ri >ý_='°9 tMýa5l1
Page 333 and 334: G, i7'1 °ßi1 5'° C, .. c ýSý y
Page 335 and 336: e:;.-. roUS pL Ll LLAI L; 111 CIA:
Page 337 and 338: " Royal Decrees and Orders "
Page 339 and 340: ZAKAT REGULATIONS (1)Article I: The
Page 341 and 342: 7- For those who do not keep reliab
Page 343 and 344: No: 17/2/28/8799(»Date: 8/9/1370 H
Page 345 and 346: No. 1 7/2/28/577Date: 14/3/1376 H19
Page 347 and 348: Royal OrderTo: Mohammed Sorour -Riy
Page 349 and 350: No. 6115/1(1)Date: 5/1/1383 H.With
Page 351 and 352: 'Zakat & Income Tax Department Bran
Page 353 and 354: Kingdom of Saudi Arabia.Ministry of
Page 355 and 356: Ministry of Finance & National Econ
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