Zakat Made Easy with

Hacene Chebbani

Date:

Channel: Hacene Chebbani

File Size: 80.58MB

Share Page
AI generated text may display inaccurate or offensive information that doesn’t represent Muslim Central's views. Therefore, no part of this transcript may be copied or referenced or transmitted in any way whatsoever.

AI Generated Summary ©

The importance of Islam is discussed, including paying off debts, not drinking alcohol, not being associated with "has been a mess" and not being blamed for doing things that are not true, and not being associated with the "has been a mess" and not drinking alcohol. The speakers emphasize the importance of purifying one's income, building a charity, managing finances, and avoiding wasting time and money. They also stress the importance of finding out who is an active trader and paying the cat on fixed assets for personal use, and caution against wasting one's wealth. Personalized jewelry is also emphasized, and privacy is addressed. The expiration of the royalty system is briefly mentioned, and a potential business opportunity is also discussed.

AI Generated Transcript ©


00:00:05--> 00:00:06

Sofie, usually

00:00:12--> 00:00:21

she's a colossal failure for coming to the spirit of this program. So Houdyshell love easy data talking about the basics of zakat.

00:00:22--> 00:00:33

And we'll try to cover most of the topics that are related to our life in Canada with me Laietana we're not farmers who are not

00:00:34--> 00:00:41

I mean miners but but we also have people here professionals or they have their own business.

00:00:42--> 00:00:49

So we'll try to focus on these areas in the in the chapter of zakat within Chapter as a cat. First of all, let's talk about

00:00:50--> 00:01:10

the importance of this pillar. Yeah, and it is enough to know that it is one of the five pillars of Islam. Right? If you have any house, you know, any building, if some of the pillars are broken, or they're not very strong, they don't feel it's normal that you don't feel this building is safe, right?

00:01:12--> 00:01:24

So same thing, Islam has been built on five pillars, and Muslims are supposed to, you know, pay attention to the importance of these major, major obligations.

00:01:25--> 00:01:40

So the way we think that Salaat is a major obligation, you know, is a second pillar of Islam. And there are some Aruna who said, you know, the one who doesn't pray he could be a non Muslim, there are some Muslims who believe that some Muslim scholars,

00:01:41--> 00:02:00

we know the importance of fasting Ramadan, right, if someone breaks his fast on purpose, people will be worried we'll be we'll be shocked. We'll be surprised. It's a major violation. So I guess the same way we have to think about the cat because it is one of the pillars of Islam.

00:02:01--> 00:02:14

The problem nowadays is when we talk to many brothers and sisters, we feel like sometimes, you know, they're thinking like, they're dealing with Fossati laarman, wonderful, zonula man, one of the voluntary acts of a vida,

00:02:15--> 00:02:36

the brother will come and tell you Oh, I didn't calculate my psychiat for two years or three years, man, I should be doing this. Like he's talking about something that is in Africa. And that shouldn't be the case with a cat is a cat is a bad is a major obligation and we have to take care of it.

00:02:37--> 00:03:18

It is always linked with the establishment of solid it was mentioned combined with the obligation of performing the salaat in in the Quran more than 26 times in the book of Allah subhanaw taala and we have the warning in Surah till tilbyr If I'm not mistaken is a 34 will reenact mizuna, they have our football when I move to Pune haffi sebe relay for Bashir whom be other bien le those who collect gold and silver basically wealth and did not spend them in the way of Allah subhanaw taala then give them a tidings not glad tidings

00:03:19--> 00:03:23

tidings off a severe punishment, severe torment.

00:03:25--> 00:03:42

So this is a warning that is found in the book of Allah Subhana Allah and the Sunnah has explained this kind of warning, there is a famous Hadith that says the one who doesn't pay, there's a cat of his golden silver, gold and silver. Usually when we talk about gold and silver, we're talking about currencies, that was the time of the currency.

00:03:43--> 00:04:01

At the time of Rasulullah, Selim, their currency was made of gold, either made of gold or silver. So the Hadith, which is authentic and is famous, that his golden silver will be turned into plates during the bursa. And these plates of golden silver will be heated.

00:04:02--> 00:04:46

And his body will be branded with these plates during a time the length of which will be 50,000 years. Of course, this measurement is something that we're not familiar with. It's a higher temperature he is talking about Alberta, Allahu Allah. But the Hadith says at the end of the day of judgment, He will be taken into account, and then he will see if he will go to Jannah or hellfire, which is a proof that this person wasn't Muslim. Even though he was neglected neglecting the obligation of zakat. He neglected this obligation, but he's still a Muslim. This is a proof that the person who does not pay zakat out of greed

00:04:47--> 00:04:49

or negligence is still a Muslim.

00:04:51--> 00:04:59

Right? Because at the end it says he will find out about his faith at the end. But the hadith is talking about

00:05:00--> 00:05:02

about some sort of punishment during the bursa

00:05:04--> 00:05:39

before the Day of Judgment, which is something very dangerous where we're not supposed to expose ourselves to this kind of punishment. Right and we don't know the nature of this punishment, but we have to take this hadith as at face value. I mean they are real because we we don't know about other people who weren't who passed away and they came back and they told us about this, this Berserk life, right? We know that ahaadeeth We know the ayat and we have to believe in their meaning that they are real, that the Prophet SAW Selim was not exaggerating.

00:05:40--> 00:05:47

The meanings are real. And they are meant to warn Muslims about the importance of this a bad

00:05:49--> 00:05:59

so anyway, Allah subhanaw taala is talking about cansia Ken's will Latina acne soon as the haberl football and the word CANS is usually translated as treasurer.

00:06:00--> 00:06:13

And it is something that is blamed, right? It's an action that is blamed in Sharia but the owner they said the one who pays the cat is not going to be blamed. So the wolf,

00:06:14--> 00:06:20

the wolf, that zakat was paid on is not described as cans.

00:06:22--> 00:06:35

Which means that Muslims are not being and not blamed for making more money. They are not being blamed for becoming wealthy, it's harder to become wealthy. It's harder to make money.

00:06:36--> 00:06:40

He would be blamed if he if they ignore the obligation of zakat.

00:06:43--> 00:06:48

And this is a Tafseer of all the Sahaba or the Allah animal talked about this i

00:06:50--> 00:07:22

Now those who deny the obligation of Zakat and not Muslims, to be to be clear about it. If he says I don't believe that the cat is obligatory, because Heather McAloon will Mina Dini with Dora what does it mean? is a basic knowledge that every Muslim knows, every Muslim knows that Zakat is one of the five pillars of Islam. So if someone comes and said, No, I don't believe it's an obligation, that he becomes a Kaffir to be clear about it.

00:07:24--> 00:07:39

But as I said, if someone is Muslim, and he believes that Zakat is mandatory, but he doesn't pay it out of negligence, or greed, that he's still Muslim, but he will be exposing himself to a great danger

00:07:41--> 00:07:42

for you.

00:07:44--> 00:07:50

Now, what is the wisdom behind this obligation? What are the benefits?

00:07:51--> 00:08:05

The owner talk mentioned about many benefits, and they are obvious actually, they said both individuals and communities will benefit and they will flourish, flourish when Socrates paid when this obligation is fulfilled.

00:08:06--> 00:08:17

And the wealth is purified, this is how we purify our wealth, especially if we are business people, or even if we are not a businessman, but you work with with a company

00:08:18--> 00:08:37

you know, you're not doing something haram, your job is halal. But you know, the in this country that your company has a line of credit, we have interest income, we have some certain activities that are not Sharia compliant, but you are an engineer or you are a professional working with this company.

00:08:38--> 00:08:47

Your job is halal, but you still as a Muslim, if you are a practicing Muslim, you will have some some kind of doubts, right?

00:08:49--> 00:08:53

You cannot have like full, full peace of mind.

00:08:54--> 00:09:20

You still have some you know, some feelings you feel about it that oh, I'm working this company doing this and doing this? Yes, I'm not doing it. Not involved in it. But how about my income, so your income is higher because you are doing something halal. But it's still this is the best way to purify our wealth and business people sometimes they exaggerate about describing their products when they advertise for these products.

00:09:21--> 00:09:33

And they might actually give some false information here and there. They might actually treat some their clients with injustice. So this is the purpose of giving zakat is to purify our income.

00:09:34--> 00:09:59

purify our income, the heart is purified from greed and selfish selfishness. Yeah, when you give, you're not selfish, you're not greedy. And you become free from this feelings. You control money. Money doesn't control you were able to easily hamdulillah reach to your account or to your pocket and give for the sake of Allah subhanaw taala This is a source of training

00:10:00--> 00:10:13

Even for the regular sadaqa because when it comes to the cat were supposed to pay only 2.5 which is not a big amount. But as Muslims we are encouraged to give more for the sake of Allah subhanaw taala

00:10:14--> 00:10:42

and, and in general the words the cat means in Arabic purification and growth and blessing Baraka, nema and taharah. It's taken from this is some meanings are taken from this ayah in Surah Toba 103 could mean I'm whirling in sada cotton to PA hero humo to the key him Bihar was salam ala him in the Salah Attica second Allah. So Allah subhanaw taala addressed his messenger sallallahu alayhi wa sallam

00:10:43--> 00:10:53

take from their wealth to charity by which you purify them and sanctify them and invoke Allah's invocations or blessings upon them.

00:10:54--> 00:11:05

Indeed, your invocations are a source of reassurance and Tonina and calmness. So I like to talk about this all the time. Because I had

00:11:07--> 00:11:14

a personal experience with it. One time I was giving hotwire, I remember, and this is my guess, this is my guess.

00:11:16--> 00:11:23

I was given cut back. And then when I mentioned this idea, there was a young man in front of me, his face turned red.

00:11:27--> 00:11:28

The moment I mentioned this, i

00:11:30--> 00:11:49

He was kind of surprised, and His face became red. And I That's my guess, that he thought that Allah is telling Prophet Muhammad, so I sell them to take from their wealth, a charity and put it in his pocket to spend it on his own family.

00:11:51--> 00:12:04

And the case, what is the case with his with him and his salatu salam and his family, they're not allowed to benefit from the cat. The cat was made haram for him and for his family.

00:12:05--> 00:12:13

And sort of the Allahu Anhu used to say that Rasulullah sallallahu would find a date in the street one date.

00:12:15--> 00:12:25

And he said, had it not been for the fear that this date would be of charity from charity. I would have eaten it.

00:12:27--> 00:12:43

He would go to his house and other Hadith. These are authentic, highly authentic hadith, he would go to his house, and he would find a date on his bed. And he said, If I know that this date is not from church charity, I would have eaten it

00:12:44--> 00:13:19

in his house. One time he went to a warehouse where they were collecting the Zakat money and they had a big pile of zecca of dates. And he had that happened with him. His grandson, who was around that time, maybe five, six years between four to six, because when he passed away la salatu salam al Hassan was around seven or eight years old, right? So he al Hassan took one date and put it in his mouth. Yeah. A child

00:13:20--> 00:13:23

and also last Isilon took it from his mouth.

00:13:24--> 00:13:35

And he said LM Talon and and the Zika data. But hurry met Elena Oh, another learner called Amin and Worley sadhaka. So don't you know that it is harder for us to eat?

00:13:36--> 00:13:38

You know, from sadaqa from the cat.

00:13:40--> 00:14:01

I mean, if if I was in his place, or even his place, I'm sure that you would say it's only a child. It's only one day Come on, take it easy, go to the market by some date and replace it right? But Rasul Allah says, Allah was very keen to, to fulfill the commands of his his Lord Ali Salatu was Salam.

00:14:02--> 00:14:12

So anyway, exactly, it was haram for him. And he was not allowed to benefit from it. And this is this could be used as a proof that he was a true messenger of Allah.

00:14:14--> 00:14:37

Now, the other benefits that are mentioned, man, we have the famous Hadith, that physicality should be taken from the wealthy in the community and distributed among the poor. Now how the pool will benefit, their hearts will be purified to, but from something else, not greed and selfishness, from what? From jealousy.

00:14:38--> 00:14:59

Right. They feel that the wealthy members of the community are fulfilling their duty. They're giving for the sake of Allah subhanaw taala. They're not selfish. They're giving to their brothers and sisters in the community. So they feel good about the rest of the community and their needs will be fulfilled with the lie to Allah, the Islamic Brotherhood

00:15:00--> 00:15:15

They will be empowered. Right people will like each other people will love each other because this obligation is fulfilled and no one is left without food. No one is left without you know basic needs.

00:15:18--> 00:15:32

For right, now we need to understand the socket. We need to look at the pillars and the most important conditions. The first one is the intention of zakat payment. It's really important why?

00:15:33--> 00:15:35

Because we have two types of charity.

00:15:37--> 00:15:45

That's the simple reason, right? It's a simple reason. It's an obvious reason. You have an salata, diaphorina

00:15:46--> 00:16:32

the five daily prayers and drama and you have the no aphid, obviously when you stand up in front of Allah subhanho wa Taala and you make tech beer, you need to know what you're doing. Right? You need to know you decide you have to decide you make a decision. Am I praying Vaughn or praying Nafisa? I'm gonna pray I'm praying, am I praying Russia or NAFTA. So you have to make a decision when it comes to Zakat is the same thing. And here I heard people say, I was having a discussion with a brother one time about zakat. And he said, I don't have to calculate my zakat at the end of the year. Why? Because I give so the culture at throughout the whole year.

00:16:34--> 00:17:06

So I don't need to calculate my my my wealth. And he's a businessman, he has inventory and he has cash and he has, he has to pay attention to this right and take care of it. It's a bad, no. So this is something that we need to pay attention to. If you will giving regular sadaqa you cannot turn it into a zakat at the end of the year. You cannot say okay, I paid like 3000 as a regular sadaqa, I will just turn it into a cat at the end of the year. You can't do that.

00:17:08--> 00:17:26

Or you give a loan to someone and this person is struggling is not able to pay you back after three years, four years, five years, he told him brother, just take it I will count it as a cat. You can't do that. Because when he gave it to him in the beginning, it was a loan. It was not the cat.

00:17:27--> 00:17:37

And this is a bad loan because the person is not able to pay you back. We'll talk about good loans and bad loans. They are important when it comes to the calculation of zakat.

00:17:38--> 00:17:57

missa missa is something that we need to really pay attention to. There are some issues with the nisab here in modern times. At the time of Rasulullah Selim it was easy, but we'll talk about how they will calculate the nisab. But it is the amount of wealth which makes you obligated to pay zakat. Very simple.

00:17:58--> 00:18:14

Right. And could be in gold could be in silver, we'll talk about it. But this is something for people who don't have money. And they started or they didn't have money in the past. And they started making some savings.

00:18:15--> 00:18:59

You know, this is not for wealthy people who have hundreds of 1000s millions in their bank account. They'll be paying this account every year. So they have a zakat anniversary. They have a deadline, and they know their deadline. We know majorities for Muslims. Unfortunately, I don't know how to do it and be calculated and how come the majority of Muslims are paying the cattle Ramadan. This doesn't make sense, because it is related to the house, which is the passing of 12 months. But the fact that majority of Muslims are paying zakat in Ramadan, it is a proof that many of them are delaying the payment of their cat or they delayed it at least in the first time. In the first year,

00:18:59--> 00:19:19

that cat was an obligation upon them. We delayed it till Ramadan to seek what the virtue of Ramadan or the multiplication of rewards while they could be sinful by delaying the payment of there's a cat because the cat is an immediate obligation. After 12 months.

00:19:20--> 00:19:56

When 12 Months pass, we have to make the calculation on that day and give her as a cat. You can delay it for one week, two weeks to find out any What do you do with your Zika do you give it locally send it back home to your family members to give it to IRC give it to national zakat foundation. So you know you are debating with yourself. You can delay it but you cannot debate with yourself for three months or four months doesn't work. But when we could be acceptable 10 days more than that is not the doesn't make sense.

00:19:58--> 00:20:00

So the nisab as I said is for

00:20:00--> 00:20:03

With the people who didn't have money, and they started saving.

00:20:04--> 00:20:21

Now, the one there my advice these days for these new savers, when your savings reach around 6000, where you have to pay attention, because then this up in the last year in the last year was between 6000 to 7000. That's the ranch.

00:20:23--> 00:21:02

Right? I'll tell you about the nisab as of March 9, two days ago, I have it in this presentation here, which is 6900. But but the nisab the ranch, then the nisab, in the last year talking about gold nisab not silver, silver is a different story. But I'm talking about gold nice up is between 6000 to 700. So my advice to young new graduates who are saving money, when your savings reach around 6000. So you need to pay attention, start paying attention, and you check the price of gold just go to gold price.org.

00:21:04--> 00:21:30

And of course it's not stable goes up and down. So when you find that your savings have reached the nisab you mark that day. That's the beginning of your house. The next concept how what is the how 12 months in the Islamic calendar 12 months in the Islamic calendar. So let's say let's say you reach the nisab or your savings, your savings, reach the nisab on

00:21:31--> 00:21:33

today's what March 11 March 11

00:21:35--> 00:21:39

Key Marshall Levin check the history, history date

00:21:40--> 00:21:47

and you will find that it is Shaban could be Chevelle 18 Something like that. 1970

00:21:48--> 00:21:58

So the 15th was on Tuesday right? Once the 16th Today's 19th Okay Shabbat night if that is your zakat anniversary.

00:21:59--> 00:22:18

That is your deadline. You mark it down. Write it down. Shaban Nitin, and Shaban Nitin of next year 1445 In the Hijiri calendar, it is your now obligation to pay the cat you have to pay zakat on that day.

00:22:19--> 00:22:46

And it's very simple one right? Don't wait until Ramadan. I know it's only 11 days of Ramadan. But that's this date here is very close. But how about if if your anniversary or your deadline falls on two months before Ramadan, three months, again, you're not allowed to delay it. Because you think that your rewards will be multiplied by 70 times the hadith of 70 times you know, is not authentic,

00:22:47--> 00:22:57

that our API that will be the rewards of our API that in Ramadan will be multiplied by 70. The hadith is not authentic.

00:22:59--> 00:23:20

There are two main excellent things that Ramadan, our fasting in Ramadan, the reward has been kept sick secret, we will find out about our rewards on the day of judgment. And there is a well known multiplication of rewards on the on that on the night of Laylatul Qadr right it is better than 1000 nights.

00:23:21--> 00:23:22

And that's it.

00:23:24--> 00:23:45

But the Hadith that says all your API that the reward of all your API that will be multiplied into 70 times is not authentic. And I know many people actually wait for Ramadan because of this. Now well how can we as I said Islamically we are supposed to follow the history calendar.

00:23:46--> 00:24:16

But for some reason, there are people who said no I want to follow the Gregorian calendar for a personal reasons for the for the sake of you know taxes or whatever it is okay, it is not haram, but the payment is not 2.5 is 2.577 there is a small difference. So to keep it simple, and make it all the time 2.5 Follow the history calendar and that's it walau to Allah

00:24:21--> 00:24:26

so now this statement is very important here that the cat is using the wealth of any Muslim

00:24:28--> 00:24:42

which means if he's a careful, that is not a deal on his wealth, it doesn't have to pay zakat. But if he lives in a Muslim country, and this Muslim countries following the rules of Sharia they might pay another tax another tax

00:24:44--> 00:24:46

but they don't pay the cat because the cat is a bad

00:24:48--> 00:24:59

So Muslims are supposed to pay the cat. Younger old majority of Muslim scholars believe young people who did not reach the age of puberty have

00:25:00--> 00:25:17

To pay zakat, they don't pay it by themselves, but their guardians, their parents pay it on their behalf. And this is the majority their opinion of the majority of Muslim scholars. I know the healthy school of thought. They believe that children even if they are wealthy

00:25:18--> 00:25:30

Yeah, his dad passed away and he left to millions or three millions, 3 million for him in in the account. It still doesn't have to face a cat because he's, he's a child. He's five years old.

00:25:31--> 00:25:46

In the opinion in the view of the majority of Muslims callers, then the guardian of this young boy or young girl has to do his fulfill his duty and pays a cat on his behalf.

00:25:47--> 00:25:49

Male or female,

00:25:50--> 00:25:56

to both that is held in savings for one calendar year after it has reached the nisab threshold.

00:25:58--> 00:26:13

Now, there are some misconceptions, one of the misconceptions. We dealt with all these misconceptions on a regular basis. We got these questions like every almost every year I'm saving money to get married. I don't have to pay zakat.

00:26:15--> 00:26:45

No, it's not true. You have to basically if it is cash in your hand, the bank account in each paycheck at the May Allah subhanaw taala bless your plants and help help you to get married. But you still have to pay zakat saving money to buy a house for my family yeah see good cause Masha Allah they still have to pay the cat cash in your head. pay zakat on it. Saving money for hush Oh Masha Allah, it seems a very good excuse.

00:26:46--> 00:27:01

You still have to pay zakat, right? It's an obligation. I don't have a job but I have savings in my bank account in the bank. Like I have 70,000 80,000 Wow, that's way above the nisab

00:27:03--> 00:27:15

it's a good money need to pay cash even if you lost your job. May Allah make it easy inshallah We'll find another job but he still have to pay zakat do I exclude the value of the nisab?

00:27:16--> 00:27:22

I received this question many times. Which means that they tell you I have 20,000

00:27:24--> 00:27:26

in the bank in my account, right?

00:27:28--> 00:27:33

Do I have to pay the cat on 16,000 14,000 only.

00:27:35--> 00:27:36

Why?

00:27:37--> 00:27:39

Because what they have in mind is

00:27:40--> 00:27:48

that they they are allowed to take away the value of the nisab. So we pay or what is above the nisab

00:27:49--> 00:28:00

This is the understanding some brothers and sisters and this is wrong know that you pay on everything. I don't have to pay zakat on the amount which I already paid on it last year.

00:28:02--> 00:28:14

Last year I had 20,000 I paid zakat on it this year my savings are 30,000 Some people believe that the he has to pay zakat only on the difference which is 10,000.

00:28:16--> 00:28:34

Okay, these are some of the misconceptions that we have in the community. Now you pay zakat, it's an annual obligation on your savings the total value of your savings. I cannot pay zakat to any family member so this is another misconception. We'll talk about this at the end inshallah.

00:28:36--> 00:28:44

Now gold and silver nice up gold nisab. It was 20 dinars at a time of Rasulullah sallallahu alayhi wa sallam.

00:28:46--> 00:28:48

And the most popular

00:28:51--> 00:28:51

you know,

00:28:53--> 00:29:12

opinion is that this 20 dinars are equivalent to 85 grams of gold. If you go to many websites, you'll find another number. I'll give you an idea about the other number a small difference, but they give you an idea but it has to be 85 grams of pure gold.

00:29:13--> 00:29:21

Right? So if it is 18 karat 1614 karat, we'll have another formula for it inshallah with me later.

00:29:22--> 00:29:26

But it is 85 grams, so the value of 85 grams.

00:29:27--> 00:29:34

This is the Nissan which is as I said, two days ago it was 69 around 60 906,900.

00:29:35--> 00:29:50

Silver nisab is 200 Durham's at the time for son Lysa seven at the time of Rasulullah Salam 20 dinars. The value of 20 dinars was equivalent was equal to the volume of 200. Durham's.

00:29:51--> 00:29:59

Nowadays, we have a problem there is a huge difference between the value of 20 dinars which is 85 grams

00:30:00--> 00:30:18

with pure gold, and the value of 595 grams of pure, pure silver, there is a huge difference at the time for Salah Salem, they didn't have this problem. So Islam is not difficult. Our Sharia is not difficult. But we live in a different time.

00:30:20--> 00:30:24

We live with a different system. We're dealing with fiat money.

00:30:25--> 00:30:39

It's a different system. That's it and we have to manage. We have to find a way how to manage and how to worship Allah subhanaw taala and still fulfill the obligation of zakat. Right.

00:30:40--> 00:30:55

One dinner, the weight of one dinner at a time for Salah Salem was 4.2 point 25 grams of pure gold. And the way to fund your home was 2.975 grams of silver.

00:30:58--> 00:31:04

Now, two days ago, one gram was in the end, that's the current

00:31:05--> 00:31:38

market price. Now, the depreciated depreciated price now the resale price because if you go to the jewelry, you go to a jewelry store and you want to sell some jewelry, they might give you a different price. And it should be less than this. They give you maybe $70 the pail like I mean they buy it from you for $70 $60 allow where am I talking about here international markets, that was the price. And that was the nisab March 9 6970.

00:31:39--> 00:31:43

Right, the lowest price during the whole year was 71.

00:31:44--> 00:32:18

The highest price to during the whole year last year and talking about the last 12 months was 85. So the highest value of the nisab was around 7100 and the lowest was around 60 100. Right? You can tell me Okay, how about if we go with the average the average is around 65. That's okay, as long as the average doesn't work all the time. As long as the average the average is lower than the the current value than today's value.

00:32:19--> 00:33:03

If it is lower than more folks that will benefit more people will give the cat and it will be in the safer side. But if the average is higher than today's value, then no you don't go with the average. You go with the today's value of the Nissan So anyway, I'm sharing with you the value of the Nissan today's we go ago and as I said if you are a new saver, he tried to watch your nisab after you have 6000 you accumulate 6000 Canadian dollars in your account. So you start watching for the nisab and then you have to pay if you know the rules you will you will be able to do it inshallah.

00:33:04--> 00:33:06

Keep track of your savings.

00:33:08--> 00:33:09

Now nisab of silver

00:33:11--> 00:33:20

nisab of silver. One kilogram of silver was 893 So which means one gram of silver is 0.893

00:33:22--> 00:33:32

then nisab is 595 grams. So the total value of the nisab is 531. That was March 9 Huge difference

00:33:34--> 00:33:37

should we follow the nisab of gold or the nisab of silver?

00:33:40--> 00:33:41

I gave you the answer here

00:33:46--> 00:33:51

should be silver. Okay we have one brother here. He's saying is silver should be silver.

00:33:52--> 00:33:54

Sisters you can participate if you want

00:33:56--> 00:33:59

the bookshelf silver the guide right

00:34:03--> 00:34:06

if you have 531 You still forget

00:34:07--> 00:34:14

that okay, so that means you are choosing gold. Gold you're going for gold going for silver. Another opinion.

00:34:15--> 00:34:17

Gold Gold

00:34:19--> 00:34:34

Key because silver doesn't make sense. Okay, why the book here the system is saying the book is saying silver because there is an opinion that says we follow what is more beneficial for the Pokhara. If we go with silver, many people will be paying zakat.

00:34:35--> 00:34:59

So a big number of Pokhara will benefit from zakat donations. You see what I'm saying? But the way I look at it, I'm talking about my personal opinion here that we should go with, with with gold, gold nisab but if you want to follow the nisab silver, then this is the argument. You know the sister she said in the book is silver. That's the argument

00:35:00--> 00:35:19

What is more beneficial for the Pokhara? I believe in this argument that we are supposed to do what is more beneficial for the Pokhara? Unless there is injustice, and I believe in this case would be injustice will happen. Why? Because someone who has 600 in his account is *in nowadays.

00:35:20--> 00:35:23

If Yeah, if he's single, he doesn't have family.

00:35:24--> 00:35:26

What do you think about 600

00:35:28--> 00:35:29

as a saving,

00:35:30--> 00:35:39

he needs to pay for the rent and bills and food and 600 is nothing this, this person might be going to Islamic organizations and asking for help,

00:35:41--> 00:36:04

will have even mature lady the cartoon, the famous Hadith that they mentioned, is the hadith of my wife when we went to Yemen Rasulullah Selim sent him and as an invoice as a diarrhea, to the land of lemon, and he told him, tell them about to read the shahada after he'd if they accept the message of Tawheed tell them about the obligation of solid.

00:36:05--> 00:36:47

If they accept the start praying, tell them about the obligation of zakat. And he said to her do mean as near as well what to do Allah Fukada aim, it is taken from the wealthy members of the community and given back to the pool and the needy within the same community. That's why it's important to fulfill the needs of the local community. And that's the idea behind establishing this organization, which is nationals ACAT foundation to fulfill the needs of those who are in need. There are people who believe that there are no Fukada in Calgary and Canada will talk about it shall remind, remind me we'll talk about it when we talk about those who deserve the cat. The difference

00:36:47--> 00:37:03

between for Cara and Misaki. Maybe we don't have a panel but we definitely have my second and there is a difference between them but both of them deserve to receive the cat or are recipients of zakat. Now as I said Silver does not make sense at all.

00:37:04--> 00:37:19

And the goal is more stable. The following the gold the nisab of gold is the photo of the Islamic Research Council affiliated with Al Azhar University long time ago when asked her was Masha Allah when as her was,

00:37:20--> 00:37:21

you know?

00:37:22--> 00:37:23

Well as I was asked her

00:37:25--> 00:37:32

now nowadays is is a different story. May Allah subhanaw taala help our brothers and sisters everywhere.

00:37:33--> 00:37:37

So the Hadith taken from the wealthy and distributed among the poor.

00:37:39--> 00:37:49

Now here we have two numbers. I'm sure that if you try to study is a cat by yourself and check the nisab online, you'll find the other number 87 point 48.

00:37:51--> 00:37:55

And for silver, you find the other number 612 grams.

00:37:56--> 00:38:47

I mean that's okay, it's another opinion but the most correct opinion will Allahu Allah is at five grams. It was verified. It was a conclusion of many major zakat conferences. They in the past, we had major conferences are organized about cerca de vida of zakat. And the there are some highly qualified scholars who made the research about this and their conclusion was that the value of this 20 dinars is 85 grams of gold pure gold not 87 And it is safer here we can say it is more beneficial for the for Cara right because more people will be giving the cat The difference is very small. Two grams in Canadian dollars is $200 Nowadays, so it's not a big difference.

00:38:48--> 00:39:04

There the reason they go for 87 because they used to these people use the traditional way of measuring the weight of 20 dinars the time for Salah Sicilian this dinars, they used to also called Mezcal

00:39:05--> 00:39:12

miscarried, it could be Wait, like in order to sell Gela we recited Sora to sell Sarah with kala variety in the weight.

00:39:13--> 00:39:52

But Mikhail had another meaning to which is dinar itself. And the the scholars who made the research about it actually some of them went to some museums, and some institutions who had the golden dinars from the time of the Umayyad caliphate and the Abbas its caliphate. And they were able to wait this dinars and they found that this is their weight, four point 25 grams and therefore the nisab should be at five grams of pure gold, Allah to Allah and this is what they follow 85 and not and 595 will allow you to add an item and it is safer.

00:39:54--> 00:40:00

Now before we talk about the formula of calculating our cat, I would like to say

00:40:00--> 00:40:03

Something about good loans and bad loans.

00:40:04--> 00:40:17

So here no loans is, is any money that you owe is not a liability in your side is the money that you advanced the loan that you advanced, you gave it to someone else, someone else owe you this money. You are the lender.

00:40:18--> 00:40:24

And he's the borrower. Right? If he's in a good health, his financial

00:40:25--> 00:40:32

situation is, is healthy. And he's not denying the loan, when this is a good loan.

00:40:34--> 00:40:36

And he's doing fine, he's not bankrupt.

00:40:37--> 00:40:45

He didn't say, Brother, I have nothing in my account. I need help. I don't have money, I don't know when I'm gonna pay you back.

00:40:46--> 00:40:54

Or he's denying the loan, saying I didn't take anything from you. You don't have proof. Go to the court.

00:40:56--> 00:40:57

So you have nothing with me.

00:41:00--> 00:41:08

As this person, if you can do nothing about it, say Hamdulillah. Allah subhanaw taala will take you to account on the day of judgment will meet you there.

00:41:09--> 00:41:20

But you don't have to pay zakat on it. It's a bad loan. It's a bad loan. A good law is a law that you give to someone as I said, again, who is doing fine. Financially, he's good.

00:41:21--> 00:41:26

his financial situation is good. And he's admitting

00:41:27--> 00:41:39

the loan. He said, Okay, sure. He's a family member, he could be a close friend. So okay, I'll pay you off to one you have an agreement, you pay you after one year, two years, three years. So this is a good loan. And it should be included in the formula.

00:41:40--> 00:41:51

Short term long term debts or liabilities here, I would say liabilities, maybe it's a different it's a better term. Any short term liability

00:41:52--> 00:42:02

is excluded. What is a short term, anything that has to be paid within the coming year, the coming 12 months in the Islamic calendar?

00:42:04--> 00:42:29

Let's say you have a debt obligation 2000 3000. And you have to pay it after Ramadan by three months, you are allowed to take it away from the amount of your cat, you don't pay the cat on it. Is that clear one, this is a short term liability. Long term liability, someone bought a house for half a million.

00:42:30--> 00:42:37

And he has to pay it within 25 years this is a long term liability is he allowed to

00:42:38--> 00:42:39

calculate

00:42:40--> 00:43:00

the value of this house and exclude it from his wealth? He's not because not is not a short term liability. So he can ignore the rest of the payment. But he's allowed to exclude Short Term Liabilities will allow to allow anything to be paid within the coming year.

00:43:02--> 00:43:18

Now talking about bad loans, I think I mentioned that if you have a bad loans, you cannot turn it into into as a card payment. Because you have to have the intention. And in the beginning, you didn't have the intention of paying zakat. So you cannot turn it into a zakat payment.

00:43:20--> 00:44:04

This is the basic formula, which doesn't include many things. But this is a basic formula. So when you calculate your account, you have to look at how much cash you have, in your head, under the pillow in your bank account with your grandma, all the cash that you have and you own right you need to calculate the value of your stock. If you are a speculator, what does it mean, you are a day trader, or someone who trades his you are an active trader, you trade within within the period of 12 months. You don't keep your holdings for a long period of time, more than 12 months more than a year.

00:44:05--> 00:44:31

This is long term investment. We're talking about short term investment here. You are an active trader buying and selling stocks, buying and selling shares in the stock market. So you include the value of your portfolio, or the day you calculate your zakat. On the day you calculate you as a cat, you look at the value of your holdings. And then you include everything.

00:44:32--> 00:44:36

You include good loans, and you know what is a good loan? Right? Include them.

00:44:37--> 00:44:59

Even if the agreement is for the other party to pay you after five years. For five years. You will not have this money in your hand. But you are the owner of this money and you decide to give him a loan for five years. Because he's a close family member. He is a friend. You want to get a tax on it right

00:45:00--> 00:45:06

All this money is not in your hand but it is a good loan. You need to pay zakat on it every year.

00:45:07--> 00:45:17

Okay, you are not using it, but you are collecting Hassan it. So it's an action that you decide to make for the sake of Allah subhanho wa Taala

00:45:18--> 00:45:55

we decided to give the loan, you're not thinking about the cat or about money or profit, because you're not allowed to charge him interest. You thinking about what about the law here? You thinking about gender. So it's, that's why it's kind of Hasson it's called Kurt Hasson, a goodly loan in Islam. And you are allowed to exclude any short term liability. You look at the total value of yours accountable money 2.5 If we follow the slummy calendar 2.577 If you follow the the Gregorian calendar

00:46:00--> 00:46:16

if now if you have investment in the stock market, and it is a long term investment, that means you are holding your shares, you're not selling them you're not buying and selling, you will decide to hold them for the same company for two years, three years.

00:46:17--> 00:46:30

When here there is something called as a capital asset ratio, I guess it is explained well explained in this guide. If you have this guide, it is well explained, I'll just give you an idea about it here.

00:46:31--> 00:46:34

So basically, you look at the total current assets.

00:46:35--> 00:46:41

But maybe in the guide is doesn't say that you have to exclude interest income.

00:46:43--> 00:46:50

So you need to look at the financial statement and exclude interest income because you're not supposed to pay zakat on it.

00:46:51--> 00:46:57

When you cash, your, your, your shares, you sell them

00:46:58--> 00:47:31

and you receive cash in your hand as a Muslim. If you know that this company was dealing with riba you are supposed to give certain amount as a way of purifying your income. But that's a different story. I'm not going to talk about it here. That's investment, we're talking about zakat. So as a Muslim, you're not supposed to pay zakat on this interest income. So, when you go and you look for the socketable asset ratio, take it out from the current asset, because it is interest income, it is usually categorized as as a current asset.

00:47:32--> 00:47:43

Right? And then divide this number with a market cap. If you go to Yahoo Finance, you will find the market cap of all these public companies,

00:47:44--> 00:47:49

all these public companies that are traded in the stock market, you will get their market cap.

00:47:51--> 00:48:06

And then you get this as a category asset ratio. Let's say for example, here, the total current assets is 15 million, and the market cap 90 million. I don't know if this is possible in the in the in the stock market, but it's just a number, right?

00:48:07--> 00:48:16

Do they allow companies with this with this market cap to trade in the public in the in the stock exchange? They do. Okay, but then

00:48:17--> 00:48:33

penny stocks out there called penny stocks. Okay. It is an example. So the capital asset ratio they have, I think a different example here in this in this guide would be 0.1666.

00:48:34--> 00:49:20

The current value of your holdings, let's say is 12,000. Based on that price on the day, the day you're calculating orders again, today, I'm making my calculating my zakat. Today, the value of my holdings in the stock market is 12,000. Right? So you are talking about one company here, we're dealing with one company, right? If you have like you're investing with five companies, you need to do the same follow the same formula with each company. Right? But here I'm talking about one company, here, you the value of your holdings 12,000, multiply 12,000k by this ratio, and then this is the total of yours accountable portion 12 to 1000s, only.

00:49:22--> 00:49:29

So you don't because it is long term investment. You don't pay zakat on the whole amount of your investment here.

00:49:30--> 00:49:47

Because you are not an active trader. Are you able to see the difference right? You're not an active trader you are not buying and selling throughout the whole year. So if you decide to roll this long term investment, this is the way you do it, Allahu taala.

00:49:50--> 00:49:59

Now the cat other investments is due on the total value of your investment in the following cases mutual funds because they are the

00:50:00--> 00:50:43

The company is an active trader, who is it decided to, for example, to invest your money with one company. Mutual funds like you bought mutual funds, they are actively trading, you know, it's an active investment. So, it has to be treated like any item that is kept for trade for the purpose of trading cryptocurrencies, usually this is the case. Bonds are not Sharia compliant bonds are not halal, because these are interest bearing securities, or bonds or conventional bonds or Hera. But if someone decided to invest in bonds,

00:50:44--> 00:51:07

he has to pay the cat he still have to pay the cat even more cryptocurrencies, my position. There are three three opinions about cryptocurrencies, halal haram, and the middle one is to work off. What is the work of neutral position. They're not saying it's halal. They're not saying and haram. And this is the position that I am holding right now.

00:51:09--> 00:51:12

I am in the middle, I have this neutral position.

00:51:13--> 00:51:34

I don't tell people it's haram when it comes to cryptocurrencies and I don't tell them it's Helen. But those who are holding this position, other scholars who are more qualified than me, they're saying if you decide to invest in Kryptos, you still have to pay zakat, because they are assets, their financial assets, you need to pay zakat on their

00:51:38--> 00:51:40

employees with pension plans.

00:51:42--> 00:51:49

So if you have a pension plan RSP, for example, you need to pay zakat on any amount that you have access to it.

00:51:51--> 00:51:52

If it is locked,

00:51:54--> 00:51:58

you don't have access to it whatsoever. Even if you claim

00:52:00--> 00:52:05

a financial emergency, you go to them and you tell them I'm dealing with an emergency, I need my money.

00:52:06--> 00:52:29

I don't know if it is possible or not. But because I was told if you are facing an emergency, and you go and apply some of them, some of the companies will give you or banks they will give you partial access, some of them will give you full access to your money. Right. So it is your duty to find out.

00:52:30--> 00:52:40

If you have access to your money to your funds, you have to take away penalties Imagine that you are withdrawing your money from the RSP account. Imagine,

00:52:41--> 00:53:00

okay, the money is still there in the RSP account. You're not taking it. You're not withdrawing the money. Please just imagine that you're going to the bank and withdrawing your money what will happen, most likely the bank will keep around maybe 20%. I would say this 20% You don't pay zakat on it.

00:53:01--> 00:53:10

You pay the cat on the value of 80% of your savings in this account whether it is RRSP TFSA. These are vehicles.

00:53:11--> 00:53:20

We don't say RSP is halal or haram because this is a vehicle this is an account. What makes it halal or haram is the investment.

00:53:21--> 00:53:35

You know what is in it? And how your money is? is managed? Are you investing in Sharia compliant stocks will other stocks whatever I mean, it's a different story. We're not talking about this today, we're talking about the cat.

00:53:37--> 00:53:43

But if you know that there is some interest income, then you have to take it away. And don't basic act on it.

00:53:45--> 00:54:07

So if the account is locked, as I said, and this is your responsibility to verify, because very I had a discussion with an accountant, a well experienced accountant, he is yesterday just yesterday. And he told me there is no RSP account that is locked forever, is what he said. He said he believes that there is some way to get access.

00:54:08--> 00:54:23

Even if they tell you it's locked. If you're facing an emergency, this is what he believes I'm talking about the feedback of someone who is experienced I believe he's an experienced accountant is what he told me because sometimes I receive different feedback from different people, right?

00:54:24--> 00:54:59

But it's not my responsibility to tell you this information. It is your responsibility. If you have RSP account to find out if you have access to your money or not. If they tell you you don't have access is locked. Tell them if I face an emergency. Do I have access to my account? We tell you yes. And they might tell you 40% 50% This is the feedback that I received from some people. Right, some other brothers, they have their own RSP accounts. Then in this case you pay zakat on

00:55:00--> 00:55:43

This 50%, but you always exclude, take away fees and penalties. Let's say the value of 50% is 20,000. The value of 50, you have 40,000. In your account, they give you access to 20,000 only, but when you withdrew it, what is left in your hand is not 20,000. What is left in your hand is only 15,000. So, he pays a cat on 15,000 or 20,015. You got it? Yeah, what? She has a Kamala RDSP it's a different story. It's for children, you know, Registered Education Savings Plan. So here,

00:55:45--> 00:56:04

if the nisab if the contribution made by parents, a contribution made by parents reaches the nisab, then you need to pay the cat on behalf of your child. You don't pay zakat on the money that came from the government. Why? Because the ownership.

00:56:06--> 00:56:12

If you go back to the slide, when we talked about pillars and conditions, maybe we didn't explain it.

00:56:14--> 00:57:04

Yeah, this one here, the last point, full and complete ownership. What does it mean that you are the owner of this wealth, and you are you have full access to it, you are able to manage this wealth is there to use it, you give it as a donation, you do business with it, you have a freedom, complete freedom of using your wealth. I was told one time ever told me, I have money in the account, he lives in a different country, right, he used to live here. But he is a Yanni. He's from a different country to add citizenship of another country. So he said back home, I have money. But he went through what is called the Arab Spring. And you know, it was a revolution, their new government, the

00:57:04--> 00:57:17

country was not stable. So the banking system within that country was not stable. You know, so they told people, you don't have access to your money, we'll give you a small amount every month.

00:57:19--> 00:57:32

He couldn't be a millionaire, he's wealthy, big amount of money in the bank said you don't have access to your money every month will give you this amount. That's it. This is the law now. Until you know,

00:57:34--> 00:58:01

things will change. So he says I don't have access to my money. So in this case, he doesn't have to pay the head on this money that is locked, he's not able to use it. That's why we say full and complete ownership. Now, this is the case with our ESP, our ESP, if if you decide to close the account, this is what happened. The month the government will take the money back.

00:58:03--> 00:58:03

Is that true?

00:58:04--> 00:58:29

This was a no. If you decide to close the account of your child, then the government will take back their contribution. So the the ownership of your child of this money coming from the government is not well established, until he reaches the age of 18. And he goes to university, if he doesn't choose to study could be a different story. I'm not sure about it.

00:58:30--> 00:58:32

If he chooses to do something else,

00:58:34--> 00:58:34

right?

00:58:36--> 00:58:38

To work to just work

00:58:39--> 00:58:46

and not not to go to university or so it could be a different story. I'm not sure about it, you tell me if you know about it.

00:58:48--> 00:59:03

But this is the case you pay money is a cap on the contribution of the parents. If it reaches the nisab and you do it on behalf of your child, because this is the ownership of your child you gave one deposit money for him.

00:59:04--> 00:59:09

It's a gift from you to him or her the money coming from the government is their property to

00:59:11--> 00:59:31

business owners. So business owners use the same formula, but they have to add the value of the inventory any any business merchandise, they have to calculate the value of their business merchandise knows the character and the value of fixed assets. I am using here fixed assets with with some caution right.

00:59:33--> 00:59:37

Because there are I was told there are some big companies

00:59:38--> 00:59:44

the the might buy some buildings and properties right?

00:59:45--> 00:59:59

And they wait for their price to go up and then resell them again. So if a Muslim does this, he has to pay zakat on the value of this property right. If you do it this way, if you buy a property with the intention of

01:00:00--> 01:00:21

Please sell it again in the market. You need to pay the cat because it is intended for trade or integrity Jarrah, right. But some big companies, I was told that they buy these properties, and they keep them, they don't use them. But on the financial statement, they include them in their fixed assets.

01:00:23--> 01:01:05

And when we calculate our account, if it is a publicly traded, traded company, and you can calculate your zakat, you are not going to include it in the formula. So it's very difficult. I don't have an answer for that. Because you don't have access to this information. They tell you this is a fixed asset. But if you are the owner of the business, you know, what is a current assets and what is your fixed assets in your company, you know that you have buildings, you're they're not for sale. They're not kept for trading. You didn't mean to buy them and sell them again, in the market. You're using this building's for your own business, you have equipment in that it's not for sale, you have

01:01:05--> 01:01:16

furniture, you have vehicles used in the business operation. So these are fixed assets, defined as fixed as you don't pay the cat on them. You don't pay the cat on their value.

01:01:17--> 01:01:48

Anything that is used in your business, and it is not meant for trading, you don't pay zakat on it. But if you have raw material, you're going to use it to make some new products, you include its value, because you're going to use it to make new products. And the value of this raw material will be included in the final price, right. So if there's a catch on it, I use the market price to calculate the value of your business merchandise will allow Tyler

01:01:49--> 01:01:53

again, there are some retina some organizations

01:01:54--> 01:02:14

who said you use the wholesale price but I don't think this is a better choice. Use the market price, it's more beneficial for the Pokhara because the market price is higher than the wholesale price all the time. Right and this is the volume of money that you're going to receive when you sell your product. right these are money that you're going to receive in your head

01:02:19--> 01:02:21

now jewelry is a cat on jewelry,

01:02:22--> 01:03:12

knows a cat on halal, any Halal jewelry, if it is for personal use, but in the Guide to advise people I do the same thing. I said I tell people this is the opinion of majority of Muslim scholars, majority of Muslim scholars that there is no zakat on jewelry, if it is for personal use. And this is the opinion of five to hobbies right? And the opinion of Hema Malik Shafi Imam Muhammad, you know and other scholars, email the other events and salsa hobbies believe yes there is a cat on jewelry. Right? If it is for personal use, but I tell people if you want to be in the safe side you can you can pay as a cat on any Halal jewelry. That is meant for personal use. That's okay, that's fine.

01:03:15--> 01:03:28

The carrot is obligatory if the jewelry is saved as a store of value. There are people who do it they keep it in the bank, you have a box in the bank, and it is there not for personal use. They keep it as a store of value.

01:03:29--> 01:03:44

They have to pay the cat on it. If it is owned by a male why a man because he is haram for him to wear gold necklaces and rings and the only thing that is permissible for male members of the community is what

01:03:46--> 01:03:49

is a ring made of silver. How about a necklace

01:03:50--> 01:04:21

is not supposed to. But in this culture in this land young people are saying no and it's the art of now. It's a it's the custom they are wearing you know this kind of necklaces, but they're not suppose the only the only exception in the books of FIFA is a ring made of silver then this is halal for main members of the community. Now if it is intended for trade business merchandise, someone who has a jewelry store definitely has to pay the category.

01:04:22--> 01:04:24

If it is used as a decoration,

01:04:26--> 01:04:38

he has to pay cash on it. And here we also need to pay attention to the value of utensils made of gold and silver. There is a scholarly consensus that we have to pay the cat on them.

01:04:39--> 01:04:48

The cat is mandatory on these things, you know these plates and knives and spoons that are made of gold and silver. We need to pay the cat on their value.

01:04:50--> 01:04:57

Know if the gold is less than 24 carats. Let's say it's 18. I have an example here if 18

01:04:59--> 01:05:00

Now we have

01:05:00--> 01:05:05

The price in international markets $80 For example, it was $80.02 days ago.

01:05:07--> 01:05:30

depreciated price What is it depreciate the price is the resale price you go to the jewelry store and then they don't get they don't buy it, they don't pay you for $80 They give you 70 or $60 per gram, right? So this is what you're going to receive in your hand if you're selling jewelry towards you will restore. Let's say here Fatima owns 1000 grams of 80k gold jewelry

01:05:32--> 01:05:32

at carats.

01:05:34--> 01:06:00

But we said the nisab the nisab is always calculated based on 24 karat pure gold. So what is the formula, she has to multiply 1000 by 18 karat and the total is divided by 24 which is pure gold. And she will end up having only 750 grams of pure gold instead of 1000. That's a huge difference.

01:06:01--> 01:06:07

So using the depreciated price, most 1000 Multiply multiplied by 70

01:06:09--> 01:06:31

the total value of her wealth would be the catchable wealth would be 70,000. But if she follows this formula, the value of her marketable assets will be only 50 52,000. That's a huge difference. So she doesn't have basic at 70,000 Because her gold is 18 Karat.

01:06:34--> 01:06:41

And you can apply this formula on any other type of gold 14 or even 10 or 12.

01:06:42--> 01:06:44

Do they call it gold 10 Karat?

01:06:46--> 01:06:47

We call it gold.

01:06:49--> 01:06:51

If it is 10 carat, or 12.

01:06:54--> 01:06:56

Because white gold, okay.

01:06:57--> 01:06:59

By the way, you can follow the same formula as shown

01:07:02--> 01:07:08

by gemstones and diamonds and if he told me why I don't know why there is no zakat on them.

01:07:10--> 01:07:20

There is no zakat on following items unless they are strictly intended for trade. If you are a business person selling this gemstones and diamonds,

01:07:21--> 01:07:23

if you are a business person,

01:07:24--> 01:07:28

then you have to pay zakat on their value. But how about if you keep them at home?

01:07:30--> 01:07:42

You are wealthy and your wife is wealthy. She decided to keep this gemstones and diamonds their value is one half a million. But they're kept at home for personal use. You don't have to pay scatola.

01:07:44--> 01:07:46

As I said, I don't have the answer for why

01:07:48--> 01:08:03

it is an asset but I don't know the aroma try to explain it. Their argument they say the main argument that I heard and I read about it. They said Allah subhanho wa Taala did not

01:08:05--> 01:08:44

did not commend us Muslims commend Muslims to pay zakat on every type of wealth. For example, if you have camels, you need to pay zakat on them whether you are a businessman or not. If we reach a certain number, if you have cows, cattle, you need to pay cattle them. But you have rabbits there is no cattle rabbits, unless you're keeping them for trade is buying and selling chicken there is no by default. There is no zakat on chicken. Unless you are a businessman, you're selling them buying and selling chicken.

01:08:45--> 01:09:34

But when it comes to sheep, for example, you don't have to be a businessman. If you own 40 sheep, then there is one sheep has to be paid as a cat. So Allah spent Allah commanded Muslim to pay zakat on some type of wealth, and he did not command us to pay zakat on some other types. Right. These had gold and silver were mentioned in the Quran. They were mentioned in a hadith of Rasulullah Salam, but these diamonds and gemstones were not mentioned. So we cannot. We cannot, you know, obliged Muslims or make it an obligation upon Muslims to pay zakat on something that is not mentioned in the Quran or the Sunnah. Does it sounds like a good argument? I think it is. Allah Allah. This is the

01:09:34--> 01:09:39

only argument that I know about otherwise, they are actually they could be very expensive sometimes.

01:09:41--> 01:09:50

But there is no Zakat and all the other precious metals other than gold and silver there is no as a kettle, unless again, they are meant for trade.

01:09:51--> 01:09:59

knows a cat on any real state here many people are confused about this many people I face these questions every year.

01:10:00--> 01:10:15

No zakat on any real estate property unless it is strictly I'm saying strictly because I want to give you this as the answer strictly intended for trade. That means when you buy this property, your intention is to resell it again in the market and make money.

01:10:17--> 01:10:41

Here you have to pay zakat on the value of this property value of the property. Even if it is half 1,000,001 million, 2 million. You pay the cat on the value when you calculate your zakat. Because you have a clear intention, that this property, you're not buying it for your son, you're not buying it for future use. You're not buying it and just leave it there and you don't know what to do with it.

01:10:43--> 01:10:51

You don't know you're not buying it because the prices are good, I mean, their properties are very cheap in the market, I just want to buy some properties and leave them

01:10:52--> 01:11:26

it has to be clear intention that you are buying them for the sake of what making money selling them again in the market and make money. When you have this clear intention, then the value of these properties has to be included. Again, because it is not a Zakat is a catchable asset. It was not mentioned in the Quran and the Sunnah, but if it is a rental property, then you pay zakat on the rental income definitely there is no cash in your head. There is no issue. There is no disagreement about it.

01:11:27--> 01:11:32

If you say I don't know what to do with it, there is no zakat on it unless you decide

01:11:33--> 01:11:40

to sell it when you sell it you buy. You change your mind you want to sell it again. What do you sell it you pays a cat on it?

01:11:41--> 01:11:41

Yep.

01:11:49--> 01:12:05

That's exactly what it is. That's that's an agreement between Muslim scholars. You don't pay zakat on the value of the property. If it is a rental property. You pay zakat on the rental income. You add it to your savings and you pay zakat on it.

01:12:06--> 01:12:24

If you spend it in your family, you pay nothing. Let's say you got a rental income of 50,000 You have one apartment you're renting one apartment and you got 50,000 as a rental income but you spend the whole amount in your family then you don't have to pay the cat because you spend it on your family it's not the saving.

01:12:28--> 01:12:30

Now people who receive the Zakat key

01:12:32--> 01:12:38

we don't have time we have only 10 minutes left you only to talk about this or you only have questions

01:12:40--> 01:12:43

because that's okay. Just go through the through this

01:12:45--> 01:12:48

slide quickly inshallah poor people they are called for Cara.

01:12:49--> 01:12:52

These people. They either have nothing,

01:12:53--> 01:12:57

no income, no properties or they have a small amount

01:12:58--> 01:12:59

of wealth.

01:13:00--> 01:13:04

Which is usually less than 50% of what they need for the whole year.

01:13:05--> 01:13:17

Their income for the whole year is left less than 50% of what they need for the whole year. Family. We need 40,000 to survive and pay for the basic needs.

01:13:18--> 01:13:36

Their income is less than 50% of what they need less than 20,000. Their income is only 15,000 we need 40,000 15,000 is less than 50% of what we need for the whole year. These people are full color and they definitely

01:13:38--> 01:14:01

deserves a cat they are number one they are on the top of the list. In the Masada car to lil Fukada sacking Allah started with them. They are on the top of the list. The second type of people they are and Moroccan Moroccan, they are not able to fulfill their basic needs. But their financial situation is better than the full Cara.

01:14:03--> 01:14:25

Which means that if they need 40,000, like the first family, but their income is 30,000 30,000. So 30,000 is way better than 15,000. But they need 40,000 They're still their situation is very tight. They're not able to fulfill their basic needs. And that's why we have IRC helping hands.

01:14:27--> 01:14:59

And we have other programs in Canada and other cities. We don't have for Cara in Canada. Why do we have we don't have for Cara because they see receiving child benefit. Single mother, maybe she doesn't have a job but she's receiving child benefits. You could be receiving some other type of help from the government. But we know life is very expensive and it's very difficult. If you don't have 5000 as a monthly budget will afford a family it will be very difficult for you to fulfill your basic needs these days. Right

01:15:00--> 01:15:11

So so we have Mr. Keane. We can say that we have Mr. Keane. And that's why we need to sometimes, you know, gives a cat and help our brothers and sisters in the community.

01:15:12--> 01:15:22

This is one of the misconceptions that we have in our community. I always hear people saying we don't have for cut out here because the government is giving them

01:15:23--> 01:15:31

well compare between them, who are receiving money from the government and between how much you're spending on your family and you know the difference.

01:15:33--> 01:15:40

Compared and you know, the difference, okay, if you have a family of five and six, you know how much you are spending every month, when your family?

01:15:41--> 01:15:44

Do you think the government will give you this amount of money?

01:15:45--> 01:15:56

They will not. If you need to spend 7000 in your family, you think the government will give you 7000 Just be reasonable, right? We'll give you maybe 3000 Allah Allah, what are you going to do with the rest.

01:15:57--> 01:15:58

So anyway,

01:16:00--> 01:16:26

employ those who are employed to collect disputes a Caterham eluna Allah, usually they are employed by the government and Muslim government. Sometimes, you know, they are employed by the cat organizations and they are paid their salaries from zakat. Those inclined towards accepting Islam and what Allah veggie Palooza home, they could be new Muslims, or could be leaders in their communities or could be someone who is interested.

01:16:27--> 01:17:08

But usually, this Zakat is managed by governments. This is the opinion of overwhelming majority of Muslim scholars that the SEC has given to those people who are whose hearts are inclined towards Islam should be managed by by the government, not individuals or zakat organizations, captive slaves, if someone is in jail, and you know that he's innocent, and if we pay some money as a community might get him out, or he committed a crime, but he may Toba and he became a better person. And if we pay some money, zakat money, we're allowed to pay some zakat money to get him out of jail.

01:17:09--> 01:17:53

Those in debt, don't forget metal Muslim students who have student loans, it could be a family member, he could be your son, he has a student loan and he's not able to pay it back. It's okay you can give him from your couch, or a family member, even your mother or father, if they have a debt, you're not supposed to give zakat to your parents, but in this case, you are allowed to give them secured if they have a debt obligation and they are not able to fulfill this obligation, we are allowed to give them as a cat for this purpose children or parents or family members the rest of the family members, brothers sisters in the way of Allah feasability Allah in the old days it was to be

01:17:53--> 01:18:38

it was given to those who volunteer with Muslim armies visa vie Allah but there are another group of scholars who said visa vie de la could be expanded to might include massage it and our programs and students of knowledge. Yeah students of knowledge. So Allah Allah Yanni in this country, we follow the second opinion who said it is permissible because this is how we protect the identity of our Muslim communities. Allahu Allah, a standard standard traveler in the old days you could be wealthy he went to another country, but his money is not with him his poor in another country, but back home he's wealthy in the old days it was illegitimate case nowadays is not because if he goes to another

01:18:38--> 01:18:42

country and he lost his he loses his wallet

01:18:43--> 01:19:08

you know, I can just call his family if he's wealthy back home and they will send him money. Easy Transfer through Western Union any I mean there are many means right? If so, it's not possible this case is not a legitimate case during our time so Allah Allah Allah Now we have only five minutes. Can we take some questions? Yes, brother.

01:19:13--> 01:19:14

Yes.

01:19:16--> 01:19:19

Yeah, that's right. So what would be the definition of personal

01:19:20--> 01:19:21

personal use? Yeah.

01:19:28--> 01:19:46

She doesn't have to wear it every day. She doesn't have to as long as her intention is to use it. Even if she use it. She's using this jewelry only on different occasions when she goes to weddings and and parties and party parties and you know,

01:19:48--> 01:19:55

like to send it and make money. Yeah, it is. If it is not kept as a store of value is not for trade.

01:19:56--> 01:20:00

is not owned by a male member of the community is

01:20:00--> 01:20:29

Not a declaration, if it is personal use Halal used in a halal way then this is the opinion of majority of Muslim scholars that there is no zakat on this type of jewelry. But as I said, again, many organizations, many other scholars, they said maybe it is safer to pays a cat when it if someone wants to follow this path. That's okay. And that's good. And she and more and more people will benefit from the cat.

01:20:30--> 01:20:32

Question. So when we give the

01:20:33--> 01:20:41

person a, we need to let them know that this is okay. I will allow only for the second question and move to other people.

01:20:43--> 01:20:54

Yeah, you don't have to. What do you think is a cat giving your cat to somebody? You don't have to tell him that this is a cat. So now maybe to be fair, yeah, we'll give a chance to sisters go ahead.

01:20:58--> 01:21:00

Do you do you pay zakat on what?

01:21:02--> 01:21:03

trust account?

01:21:05--> 01:21:06

Okay, I'm not sure about that.

01:21:07--> 01:21:09

What kind of trust account?

01:21:11--> 01:21:13

Could you give me more information about it?

01:21:16--> 01:21:21

Because there are some people who say okay, there is no zakat on it. But I still need to understand it.

01:21:28--> 01:21:29

Do you have access to it?

01:21:32--> 01:21:36

You have but you have asset? Can you have access to it? It's all about access.

01:21:41--> 01:22:00

Okay, so it's all about understand now I understand why some scholars said you don't have to pay the cat. Because these loss of lack of access. If you don't have access whatsoever, you don't pay the cash on it. Because the ownership is not complete. But the moment you have access, then you need to pay the cash on

01:22:03--> 01:22:08

cash. I will see just to be fair, because we don't have time. We have only two minutes. Yes, the brother

01:22:09--> 01:22:13

Jonas or the brother. Yeah. Okay. Go ahead.

01:22:14--> 01:22:15

Question is

01:22:16--> 01:22:18

for the RRSP

01:22:21--> 01:22:35

asset ratio applicable to the RSP as stocks or Yeah, it is applicable? If it is a long term investment. You follow the same formula? As long as his long term investment follow the same.

01:22:38--> 01:22:39

By then,

01:22:40--> 01:22:40

yeah.

01:22:45--> 01:22:54

It is a long term investment. Yeah, you need to follow the same formula. Yeah, you need to know the companies and follow the same formula. Yes, another brother

01:22:58--> 01:23:02

some short term investment? And because of the market conditions.

01:23:04--> 01:23:07

Can you consider your short term investment?

01:23:09--> 01:23:12

Change the near mean this what you're trying to say?

01:23:14--> 01:23:28

Yeah, if you keep it more than one year, yes, it's a long term investment. But if you if it is traded within the period of 12 months is not a long term investment. And you have to include the value of your portfolio and yours again.

01:23:31--> 01:23:32

You have a question?

01:23:34--> 01:23:34

Go ahead.

01:23:36--> 01:23:37

As an example,

01:23:38--> 01:23:41

we use investments to make our money.

01:23:43--> 01:23:55

Yeah, that's right. So so if, as an example, I made an investment and I want business still count on that, I have to make my second board up on the Prophet.

01:23:57--> 01:24:05

By the way, when it comes to the Prophet, the how the how the deadline of the Prophet is the same as the capital.

01:24:06--> 01:24:14

I'll finish with this. I'll, I'll finish with this Inshallah, because many people are confused about this, the nisab.

01:24:16--> 01:24:18

And I need to explain it.

01:24:20--> 01:24:24

The nisab the Hound is the passing of 12 months, right?

01:24:26--> 01:24:44

There are many people who are confused about their for example, their monthly salaries are the income that they just received before their deadline one month, 15 days, two months. They said this money did not stay with me for 12 months. Do I have to pay the cat on it?

01:24:46--> 01:25:00

Okay, if this money is a profit from a business operation, it has the same deadline like the capital. So on the same date, the same date you're you're the cat and if

01:25:00--> 01:25:38

versus you pay zakat on the capital and the profit. And this is an agreement between Muslim scholars. Now, if it is a new income, like a salary is a new income every month, then here, you are technically allowed to keep a different whole deadline for every income technically. But this is difficult for all people decide it is difficult. And what all people are doing the paisa catch on there is a cat anniversary. And that's it. They don't worry about how long this income stayed with them.

01:25:40--> 01:26:06

It makes it easy for everyone. They wouldn't be paying their cat in advance for some types of money or some sort of income. They wouldn't be paying the cat on it. It didn't stay with them for 12 months. This will make it easy for your own convenience. You just calculate how much you have. On that day, the day you're supposed to pay your cat. And that's it and you pay 2.5

01:26:07--> 01:26:18

but in one case, for example, let's say someone is supposed to pay the cat in Ramadan in Shaban he sold the house, the value of this house half a million.

01:26:19--> 01:27:06

This is a big amount of money here. Do I have to pay zakat on it I don't have I just sold it in Shaban stayed with me only for one month. He's allowed if he wants to say okay, this half man, half a million, I will have a different deadline for it. I will keep it in my account. But he has to pay zakat on it next Shabbat not Ramadan. Because if he pays the cat on it on Ramadan, it will be 13 months. But if he pays on champion, it will be one year 12 months, he's allowed to have a separate deadline for some type of, you know, wealth if it is a big amount. And he cares about it and he doesn't want to pay the cat on it in advance. Is that clear? One? I'm sorry. We don't have enough

01:27:06--> 01:27:06

time.

01:27:08--> 01:27:31

Yeah, he's allowed. Yeah, he's allowed you. So we have to make the other JazakAllah Clayton and after Isha prayer, I'm busy. I cannot answer your questions. I'm sorry. I have a meeting. So but I'm available in Calgary. Whenever you have a question you can show the ask and we'll answer your questions. If we know the answer we the lighter. She has come along here.