An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives

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originalfilename 1377-01-FH03-FUHA-19-22903.pdf
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spelling 6460 https://intelek.unisza.edu.my/intelek/pages/view.php?ref=6460 https://intelek.unisza.edu.my/intelek/pages/search.php?search=!collection407072 Restricted Document Conference Conference Paper application/pdf 3 Adobe Acrobat Pro DC 20 Paper Capture Plug-in 1.7 PDFium 2019-01-01 10:39:42 1377-01-FH03-FUHA-19-22903.pdf UniSZA Private Access An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives Zakat is one of the five pillars of Islam obligatory upon human beings who believe in Allah and His Messenger (pbuh). It refers to the determined share of wealth prescribed by Allah as an act of worship. The consideration of its great objectives (al-maqasid) in Islam, among others, public interest and social justice to the Muslim society influences contemporary Muslim jurists to uphold the obligation of companies to pay zakat as issued in their fatwas and resolutions. In Malaysia, several fatwas and resolutions issued by the religious fatwa councils clearly impose this religious obligation on the corporations as their business zakat (urudh altijarah) which are legally registered under the Companies Act 2016. This paper discusses the obligation of companies to pay zakat from Malaysian law and Shariah perspectives. It aims to analyse whether it is legally viable for corporations registered under the Companies Act 2016 which adopts the English common law to be obligated to pay zakat. Research methodology applied in this paper is doctrinal and statutory analysis. INTERNATIONAL CONFERENCE ON LAW AND GLOBALISATION 2018 UNISZA
spellingShingle An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
summary Zakat is one of the five pillars of Islam obligatory upon human beings who believe in Allah and His Messenger (pbuh). It refers to the determined share of wealth prescribed by Allah as an act of worship. The consideration of its great objectives (al-maqasid) in Islam, among others, public interest and social justice to the Muslim society influences contemporary Muslim jurists to uphold the obligation of companies to pay zakat as issued in their fatwas and resolutions. In Malaysia, several fatwas and resolutions issued by the religious fatwa councils clearly impose this religious obligation on the corporations as their business zakat (urudh altijarah) which are legally registered under the Companies Act 2016. This paper discusses the obligation of companies to pay zakat from Malaysian law and Shariah perspectives. It aims to analyse whether it is legally viable for corporations registered under the Companies Act 2016 which adopts the English common law to be obligated to pay zakat. Research methodology applied in this paper is doctrinal and statutory analysis.
title An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
title_full An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
title_fullStr An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
title_full_unstemmed An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
title_short An appraisal on the obligation of companies to pay zakat: The Malaysian law and shariah perspectives
title_sort appraisal on the obligation of companies to pay zakat: the malaysian law and shariah perspectives