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The Concept of Zakat of Mustaghallat and Its Application to Long Term Investment Sukuk

  • 2021
  • OriginalPaper
  • Chapter
Published in:
Authors
Azman Bin Muhammad Noor
Abdoul Razzak Kaba
Ahmad Zakirullah bin Mohamed Shaarani
Abdulmajid Obaid Hasan Saleh
Published in
The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries
Publisher
Springer International Publishing

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Abstract

This chapter delves into the intricacies of Sukuk, a Shariah-compliant alternative to traditional bonds, and explores the complexities of applying Zakat to these instruments. It begins by defining Sukuk and outlining its main features, highlighting its unique position as a hybrid between stocks and bonds. The chapter then examines the various opinions of modern Fiqh scholars on the application of Zakat to Sukuk, ranging from treating them as tradable assets to considering them akin to debt. The author also discusses the challenges posed by the liquidity and fixed return characteristics of Sukuk, and proposes a differentiated approach to Zakat calculation. Finally, the chapter concludes with a detailed analysis of the rulings on Zakat for different types of Sukuk, offering valuable insights into the practical implications of these rulings for Islamic financial markets.
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previous chapter The Comprehension of Maqasid Shariah Towards Cashless Tools Among Muslim Entrepreneurs
next chapter The Accomplishment of Knowledge Delivery Towards Islamic Banking Employees
Title
The Concept of Zakat of Mustaghallat and Its Application to Long Term Investment Sukuk
Authors
Azman Bin Muhammad Noor
Abdoul Razzak Kaba
Ahmad Zakirullah bin Mohamed Shaarani
Abdulmajid Obaid Hasan Saleh
Copyright Year
2021
Book
The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries

Print ISBN: 978-3-030-69220-9

Electronic ISBN: 978-3-030-69221-6

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-3-030-69221-6_118
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