A clarification related to Zakat? Anyone

[Sohail Shuja]

Thanks for this great information as related to the pension funds, and it makes perfect sense. So let's assume that if someone has a pension fund portfolio of one million invested strictly in the equity markets (profit/loss basis) and let's say that the annual income received is 50k (total of dividends and capital gains, i.e. increase in shares value), then the zakat is due on 50k and not on the total value of the portfolio (1M). Is this correct understanding?

Yes Sir. Moreover,if the earnings are above nisaab, then the zakat be calculated on the earnings above the nisaab threshold, only. Rest is Zakaat free.

One more thing is the capital gains. The gains are not calculated unless the original amount is withdrawn. Therefore the assets are taken at their book value, not the market value.

Markets are very volatile, hence, capital gains are not subject to it, unless materialized. Calculations on asset gains can be very misleading. Also, this condition applies on shares which are taken as an investment to be traded off later. Not on investments which are only made for the sake of earning profits from dividends.

 

[GreenMaple]

Yes Sir. Moreover,if the earnings are above nisaab, then the zakat be calculated on the earnings above the nisaab threshold, only. Rest is Zakaat free.

Great! One last thing: What is the current nisaab amount? I am not sure how it is calculated.

 

[Wake up Pak]

It is incontestable that the Prophet (SAW) was ordained with the duty to deliver the message from Allah (SWT).

But what confuses me here is that, whether this translates into a factum that only the words of Quran as narrated by Muhammad (SAW) are to be followed, and not his Aswa e Hasana?

There has certainly been for you in the Messenger of Allah an excellent pattern for anyone whose hope is in Allah and the Last Day and [who] remembers Allah often (33:21).

Furthermore,Quran, in itself also says:

And if all the trees in the earth were pens, and the sea, with seven more seas to help it, (were ink), the words of Allah could not be exhausted. Lo! Allah is Mighty, Wise. (31:27).

So, Quran is complete in its message, yet there is a lot more which could have been revealed. But this qould have put more pressure on the people of faith to go through all those details.

Hence, it perfectly makes sense that in the life and Hasana of Muhammad (SAW) was also an example for the believers.

But I do get your point here.

Books of Hadith have caused much of disambiguation among the muslims and therefore had been the point of controversies. For that, I (for myself) follow one hadith of Rasool Allah (SWT) which goes : Compare my Hadith from Quran and if it contradicts Quran, reject it as it is not my Hadith.

It means that Muhammad (SAW) was aware of the fact that sometime later on, people will come up with different accounts of his Hadith and therefore he has set Quran as a standard to compare the authenticity of his Hadith.

Therefore, I agree in totality with you that Quran is the Standard to follow and to resolve any differences which arise.

Secondly, I also believe that there is a wisdom behind the aswa e hasana of Prophet (SAW) of how he carried himself and how he clarified many things.

Yet, we cannot blindly follow hadith books (I agree on this one as well).

Lets say, as in Quran it is mentioned about the people of Loot (AS) that angels from heavens came to him in the guise of persons.

Isn't that enough to believe that if Allah (SWT) Would desired, he could send the Quran by means of such angels and not the Prophets?

There has certainly been for you in the Messenger of Allah an excellent pattern for anyone whose hope is in Allah and the Last Day and [who] remembers Allah often (33:21).

Here is a video you can watch from12:00 minutes onwards or watch the whole video.

 

[Wake up Pak]

“Shall I then seek a Judge other than God? When it is He Who has revealed to you the Book fully detailed?” (Qur'an 6:114)

"And We have revealed the Book to you which has a clear explanation of everything, and a guidance, mercy and good news for those who submit." (Qur'an 16:89)

"We did not leave anything out of this book." (Qur'an 6:38)

 

[Sohail Shuja]

Great! One last thing: What is the current nisaab amount? I am not sure how it is calculated.

One thing is that please recheck my previous comment as I made some changes in it.

To clarify again, Zakat is on savings. So, if the savings from the source of income is above than 3 ounces of gold or 21 ounces of Silver, then the Zakaat is payable on that amount @ 2.5%, which is above this nisab. There is another condition that this amount of saving must be lying idle with the person for at least one lunar year. As for a solar year, the rate of zakat is then 2.577%.

 

[Sohail Shuja]

“Shall I then seek a Judge other than God? When it is He Who has revealed to you the Book fully detailed?” (Qur'an 6:114)

"And We have revealed the Book to you which has a clear explanation of everything, and a guidance, mercy and good news for those who submit." (Qur'an 16:89)

"We did not leave anything out of this book." (Qur'an 6:38)

Indeed, in its message, Quran is complete.

Look, there is something what we call a policy statement, which lies above each and every document of the organization.

But from that policy statement, we further draw rules, regulations, strategies, objectives, targets and Standard Operating procedures.

Quran should be taken as a policy statement (in my own point of view). Aswa e Hasana guides us through the way this policy statement should be derived into practice. Lets say, anything mentioned in Quran about shaking the right hand? But only that Allah(SWT) stresses on cleanliness. However, how this should be translated into practice is embodied in the life of Muhammad (SAW).

Moreover, let me say here that it was also envisioned by Muhammad (SAW), that as time will progress, things will change. Therefore there might arise situations where one will not be able to find its reference clearly in Quran and Sunnah. Therefore, he also opened the door of Ijma, Ijtihad and then Qiyas. The baseline of each of these acts is set as the Quran in primary, as the leading Policy document.

Since I recently stumbled upon a matter where a husband of a woman went missing for two years, now she wanted to remarry. Asked me if I could find any reference from Quran or authentic ahadith regarding this.

 

[Sohail Shuja]

There has certainly been for you in the Messenger of Allah an excellent pattern for anyone whose hope is in Allah and the Last Day and [who] remembers Allah often (33:21).

Here is a video you can watch from12:00 minutes onwards or watch the whole video.

Oh I get your argument after just watching 5 minutes of the video after the time you prescribed.

I am of the same opinion that Aswa e Hasana is construed quite differently by us these days. We think that keeping a beard is aswa e hasana. But we forget that even Abu Jahl had a beard as well. Aswa e Hasana should be taken in its functional and operative aspects, than these nitty gritties.

I also saw a scene in a movie, I am referring here:

 

[GreenMaple]

One thing is that please recheck my previous comment as I made some changes in it.

To clarify again, Zakat is on savings. So, if the savings from the source of income is above than 3 ounces of gold or 21 ounces of Silver, then the Zakaat is payable on that amount @ 2.5%, which is above this nisab. There is another condition that this amount of saving must be lying idle with the person for at least one lunar year. As for a solar year, the rate of zakat is then 2.577%.

Thanks for explaining. It was a good conversation.

 

[Wake up Pak]

Indeed, in its message, Quran is complete.

Look, there is something what we call a policy statement, which lies above each and every document of the organization.

But from that policy statement, we further draw rules, regulations, strategies, objectives, targets and Standard Operating procedures.

Quran should be taken as a policy statement (in my own point of view). Aswa e Hasana guides us through the way this policy statement should be derived into practice. Lets say, anything mentioned in Quran about shaking the right hand? But only that Allah(SWT) stresses on cleanliness. However, how this should be translated into practice is embodied in the life of Muhammad (SAW).

Moreover, let me say here that it was also envisioned by Muhammad (SAW), that as time will progress, things will change. Therefore there might arise situations where one will not be able to find its reference clearly in Quran and Sunnah. Therefore, he also opened the door of Ijma, Ijtihad and then Qiyas. The baseline of each of these acts is set as the Quran in primary, as the leading Policy document.

Since I recently stumbled upon a matter where a husband of a woman went missing for two years, now she wanted to remarry. Asked me if I could find any reference from Quran or authentic ahadith regarding this.

It is a good question: "Since I recently stumbled upon a matter where a husband of a woman went missing for two years, now she wanted to remarry"
There are several questions that pop up which I do not have the direct answer to yet but, I will get back to you.

 

[Sohail Shuja]

It is a good question: "Since I recently stumbled upon a matter where a husband of a woman went missing for two years, now she wanted to remarry"
There are several questions that pop up which I do not have the direct answer to yet but, I will get back to you.

Now let me ensemble my conclusion here.

As I said that I believe that Allah (SWT) will reward our intentions, rather than actions. Therefore, I cannot raise my finger on anyone that whether he is doing something right or wrong. His intentions are only clear to him or Allah (SWT), therefore, I only recluse myself by saying that "whatever I do, according to my conscience is right, for anyone else, I don't have a clue".

It is also a fact that two people may come up with two different conclusions, but both of them may be intentionally right.

In my younger years, my Grandma told me a little story about this, which goes:

A person erected a peg besides a water well, and the other one came and rooted it out. There was an argument between the two and the matter was taken to the judge. The judge asked the one who erected the peg that why did he do that?

"So that a traveler passing by may tie his camel with it and drink from the well without worrying for his camel/horse etc." He replied.

Then the judge turned towards the other one and asked "Why did you uproot it?"

"So that anyone coming to the well in the dark may not stumble upon it and fall into the well" Said he.

So the judge had to release both of them, since the intentions of both were of welfare and not otherwise, though their actions were contrary to each others.

Therefore, I, personally refrain from making a judgement call about anyone's faith, actions or beliefs as being right or wrong.. I think that I am only questionable regarding my own actions and that too in the light of my sincerest and most honest of intentions.

Overall, it was a good discussion with you and I hope that you understand my point of view as well.

Nevertheless, thank you for your time and effort imparted for this great discussion. I really appreciate it.

 

[Wake up Pak]

Now let me ensemble my conclusion here.

As I said that I believe that Allah (SWT) will reward our intentions, rather than actions. Therefore, I cannot raise my finger on anyone that whether he is doing something right or wrong. His intentions are only clear to him or Allah (SWT), therefore, I only recluse myself by saying that "whatever I do, according to my conscience is right, for anyone else, I don't have a clue".

It is also a fact that two people may come up with two different conclusions, but both of them may be intentionally right.

In my younger years, my Grandma told me a little story about this, which goes:

A person erected a peg besides a water well, and the other one came and rooted it out. There was an argument between the two and the matter was taken to the judge. The judge asked the one who erected the peg that why did he do that?

"So that a traveler passing by may tie his camel with it and drink from the well without worrying for his camel/horse etc." He replied.

Then the judge turned towards the other one and asked "Why did you uproot it?"

"So that anyone coming to the well in the dark may not stumble upon it and fall into the well" Said he.

So the judge had to release both of them, since the intentions of both were of welfare and not otherwise, though their actions were contrary to each others.

Therefore, I, personally refrain from making a judgement call about anyone's faith, actions or beliefs as being right or wrong.. I think that I am only questionable regarding my own actions and that too in the light of my sincerest and most honest of intentions.

Overall, it was a good discussion with you and I hope that you understand my point of view as well.

Nevertheless, thank you for your time and effort imparted for this great discussion. I really appreciate it.

I might disagree on some issues but, I have always respected other people's opinions.
I can not give a judgment as to the final judge is Allah alone. All I try to put forth is my little understanding of the Quran as I do not follow any book besides the Quran.
In the hereafter, we will be questioned about the Quran, not any other man-made book.
Definitely, the intentions always count but to get to the conclusion of any subject matter we have to use our God-given intellect and wisdom to judge and question what is right or wrong, and not to follow anything blindly.
Anyway, had a good discussion and I find you quite informed and not a blind follower.

25:30 And the Messenger has said, "O my Lord, indeed my people have taken this Qur'an as [a thing] abandoned."

 

[Sohail Shuja]

I might disagree on some issues but, I have always respected other people's opinions.
I can not give a judgment as to the final judge is Allah alone. All I try to put forth is my little understanding of the Quran as I do not follow any book besides the Quran.
In the hereafter, we will be questioned about the Quran, not any other man-made book.
Definitely, the intentions always count but to get to the conclusion of any subject matter we have to use our God-given intellect and wisdom to judge and question what is right or wrong, and not to follow anything blindly.
Anyway, had a good discussion and I find you quite informed and not a blind follower.

25:30 And the Messenger has said, "O my Lord, indeed my people have taken this Qur'an as [a thing] abandoned."

Brother, whatever you do, by using the best of your knowledge and understanding, and sincerest of your intentions is what counts. Whether you are doing something right or wrong is not my area of concern. Your intentions are clear to you and Allah (SWT), so let it remain between you two. I can only exchange ideas according to my understanding.

I do not call someone a deviant only if he thinks differently from the mainstream. Since, it is quite possible to come up with different conclusions on the same point, having good intentions on both sides.

And off course, as knowledge increases, wonder deepens. Our ideas keep shaping with the passage of time, as we acquire more knowledge and apply rational thinking. So, what we may believe today, may not remain our belief tomorrow. So, if someone is in the quest of finding the truth, I appreciate him. Since I also believe that everyone who wanders is not necessarily lost.

You are a thinker and as far as your origin of deriving knowledge and referencing is Quran, I am sure you will never be misled. Off course, I do agree that Quran is above all. No man made book can be ranked as superior, whatsoever.