Zakat investment in Shariah
Zakat is an obligatory payment and the idea of zakat investment was initiated by the belief that providing the poor and needy with a non-substantial amount of fund that is mostly used to pay for their expenditure is not enough to undertake poverty. Muslim intellectuals suggested a long-term measure...
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| Format: | Article |
| Language: | English English |
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Medwell Journals
2016
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| Online Access: | http://irep.iium.edu.my/79746/ http://irep.iium.edu.my/79746/1/Published%20Article.pdf http://irep.iium.edu.my/79746/6/79746%20Zakat%20Investment%20in%20Shariah%20SCOPUS.pdf |
| _version_ | 1848788831822675968 |
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| author | Gafoordeen, Nagoor Mohamed Mohideen, Nayeem Akbar, Mohamed Aslam |
| author_facet | Gafoordeen, Nagoor Mohamed Mohideen, Nayeem Akbar, Mohamed Aslam |
| author_sort | Gafoordeen, Nagoor |
| building | IIUM Repository |
| collection | Online Access |
| description | Zakat is an obligatory payment and the idea of zakat investment was initiated by the belief that providing the poor and needy with a non-substantial amount of fund that is mostly used to pay for their expenditure is not enough to undertake poverty. Muslim intellectuals suggested a long-term measure involving the investment of zakat that not only complement the poor with a stream of income that is more consistent and continuous, but also provide a source of income to fund overall Muslim economic development. However, Muslim intellectuals found that investment of zakat may make the payment legally vulnerable from the Shariah (Islamic law) point of view. Thus, many fatwas and views have been expressed by the Muslim intellectuals as guidelines to ensure that the investment activities conform to Shariah. This study examines contemporary intellectuals’ viewpoints of zakat investment. |
| first_indexed | 2025-11-14T17:47:05Z |
| format | Article |
| id | iium-79746 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English English |
| last_indexed | 2025-11-14T17:47:05Z |
| publishDate | 2016 |
| publisher | Medwell Journals |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-797462020-04-16T04:21:08Z http://irep.iium.edu.my/79746/ Zakat investment in Shariah Gafoordeen, Nagoor Mohamed Mohideen, Nayeem Akbar, Mohamed Aslam BP140 Islamic law (Fiqh) BPH531 Zakat HB126.4 Islamic Economics HG4501 Stocks, investment, speculation Zakat is an obligatory payment and the idea of zakat investment was initiated by the belief that providing the poor and needy with a non-substantial amount of fund that is mostly used to pay for their expenditure is not enough to undertake poverty. Muslim intellectuals suggested a long-term measure involving the investment of zakat that not only complement the poor with a stream of income that is more consistent and continuous, but also provide a source of income to fund overall Muslim economic development. However, Muslim intellectuals found that investment of zakat may make the payment legally vulnerable from the Shariah (Islamic law) point of view. Thus, many fatwas and views have been expressed by the Muslim intellectuals as guidelines to ensure that the investment activities conform to Shariah. This study examines contemporary intellectuals’ viewpoints of zakat investment. Medwell Journals 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/79746/1/Published%20Article.pdf application/pdf en http://irep.iium.edu.my/79746/6/79746%20Zakat%20Investment%20in%20Shariah%20SCOPUS.pdf Gafoordeen, Nagoor and Mohamed Mohideen, Nayeem and Akbar, Mohamed Aslam (2016) Zakat investment in Shariah. International Business Management, 10 (12). pp. 2398-2401. ISSN 1993-5250 http://docsdrive.com/pdfs/medwelljournals/ibm/2016/2398-2401.pdf 10.36478/ibm.2016.2398.2401 |
| spellingShingle | BP140 Islamic law (Fiqh) BPH531 Zakat HB126.4 Islamic Economics HG4501 Stocks, investment, speculation Gafoordeen, Nagoor Mohamed Mohideen, Nayeem Akbar, Mohamed Aslam Zakat investment in Shariah |
| title | Zakat investment in Shariah |
| title_full | Zakat investment in Shariah |
| title_fullStr | Zakat investment in Shariah |
| title_full_unstemmed | Zakat investment in Shariah |
| title_short | Zakat investment in Shariah |
| title_sort | zakat investment in shariah |
| topic | BP140 Islamic law (Fiqh) BPH531 Zakat HB126.4 Islamic Economics HG4501 Stocks, investment, speculation |
| url | http://irep.iium.edu.my/79746/ http://irep.iium.edu.my/79746/ http://irep.iium.edu.my/79746/ http://irep.iium.edu.my/79746/1/Published%20Article.pdf http://irep.iium.edu.my/79746/6/79746%20Zakat%20Investment%20in%20Shariah%20SCOPUS.pdf |