Hacene Chebbani – Zakat Seminar – Part 1
AI: Summary ©
The speakers discuss the importance of ZECab in Islam, including paying ZECs and managing debt payments. They stress the need for caution and giving back to Islam, as it is a source of security and growth. The speakers also emphasize the importance of managing debt payments and avoiding giving large amounts of money to anyone. The importance of including all ingredients in making a product, including value in price, inventory, savings, and graduation, is emphasized. The speakers also emphasize the need for students to help students save money and get their education.
AI: Summary ©
As you know, we'll be talking about Zakat in sha Allah today.
And
we'll be talking about the importance of zakat. Talking about the way we calculate the nisab because there are different for towers or two for towers that are famous that are available inshallah within Muslim communities. And I'll tell you why we have to go with the gold standard, why we have to calculate our Zakat based on the value of the gold in the market nowadays. Before that, before we go into this numbers and these calculations, I would like to remind everyone about the importance of Zakat importance of paying the zakat. First of all, it is a pillar of Islam, one of the five pillars of Islam.
And I want you to imagine that a lot of Allah Allah wants you to build a house in general.
When you worship Allah subhanho wa Taala and you practice Islam, imagine that you are building your house in gender can you build a house that has some missing pillars, you cannot do that. The house will collapse. And Allah Subhana Allah will not allow for something imperfect to exist in general. We know that everything in general is perfect. Everything gender is pure. So anyway, it is one of the main obligations of Islam. It is the third pillar of Islam after she had attained salat, and Zakat, and Allah subhanho wa Taala always mentioned salaat with Zakat together in the Quran levena Acoma Salatu was Salam ala to the cat so they go together, and they are linked strongly linked, we
cannot establish a strong Muslim community without taking care of the needs of those who are less fortunate, who need our help. But the last half hour to Allah told us about some warnings and sort of the tomasino levina resume that they have, I will feel better. When I am happy Sabina, if ever she'll home be either been Aleem, he said those who hoard golden silver and you know, spend it in the way of Allah subhana wa tada then give them the glass is not a glut tiding the tiding of a painful tournament. So Allah subhanaw taala is telling the believers that if you don't pay the cat, then this is what is waiting for you on the Day of Judgment.
And this is part of the mercy of Allah subhanaw taala to clarify these issues to the believers, so they know what is waiting for them on the Day of Judgment, if they do not fulfill their obligations. And then he said you may have met and they have been at Johanna for two Coby has Shiva who was Nobu motoharu hazama can assume Liam fusi Cooper lucuma Quantum teknis Zoo. So he said on the day when this wealth will be heated in the fire of *. And then their foreheads their sights and their backs, it's very clear here very detailed, very graphic right? For heads and backs and and their sights and their back will be branded with it or burned with it. And then it will be set to them
this is the treasure which you hold it for yourselves.
So taste what you used to hold this is in solid tober 34 to 35 the two verses of 3435 in soda tober and also realize I sell him confirm this meaning he said ma'am in sahibi fill button whenever I have like these akata ha ha ha ha la omo pialba Sophie had lucify Amina. So he said there is no owner of golden silver and Allah subhanaw taala mentions golden silver, the outer solar system same thing, but that was their currency at that time. They used to use golden dinars and silver Quinn's a variable fees are usually less less talking about money here. There are other types of properties other types of wealth will mention some of them. But here Allah subhanaw taala is talking about
accumulating wealth and not paying zakat. And the Messenger of Allah sauce lm is confirming as I said, the meaning of these two as he said there is no owner of golden silver, who does not pay its view except that there will be plates, you know made for him of fire made for him
on the Day of Judgment, and then his forehead and his sights and his back will be burned with them. koulamallah that proselytizing himself or at that level.
Every time the cooldown, the process is repeated again and again during a time of day which is equivalent to 50,000 years, until judgment is pronounced among the servants. And then he will see whether his path will lead him to Jannah or it will lead him to hellfire. This is a daily Is that the one who is Muslim and he says that she had attained and he prays he offers the five daily prayers, but he does not pay zakat is not careful if he believes that Zakat is an obligation.
But if he denies the obligation of Zakat, if he doesn't believe that, that is an obligation, he becomes Kevin. And by the way, this is not a form of extremism. We know that people are, you know, throwing making tequila on other people nowadays, we don't agree with this methodology. We don't agree with Muslims who label other Muslims with tech field with no valid reason. But this is a basic knowledge. This is a basic knowledge of Islam. If you ask any student, first year student in any Islamic University, you tell him someone is denying that salaat is an obligation. This is basic knowledge, he becomes careful, even if he was born Muslim, if he denies the obligation of fasting in
Ramadan, he becomes careful. This is basic knowledge. But there is other types. There are other types of people who would label other Muslims will take fear without a valid reason, then this is another problem. It's a form of extremism. And we don't agree with that. We don't agree with this behavior. But here we are talking as I said, this is part of basic our basic knowledge in Islam, that we know someone says Zakat is not an obligation. He's denying a basic knowledge that is found in the Quran. It is found in the book of Allah subhanho wa Taala. So basically saying I don't believe in this is that that talking about Zakat, or a hadith that are talking about Zika I'm saying
this because there are some people who don't feel good whenever they hear someone talking about tequila or Cooper Yes, you have to be careful I agree with you. When you talk about your career or go for this belief, we have to be careful. But this is as I said, this is something that is known and when established when establishing our D
So Allah subhanaw taala talking about Ken's Ken's his accumulated wealth. So the rule ama basically said any wealth is not haram to accumulate golden silver, by the way, it's not haram to accumulate wealth. But he said any wealth, you know that Zakat is do you own it, and it has not been paid, where it is Ken's
based on the Quranic term,
and the person the owner of the skins will be taken to account or the Day of Judgment. But if the cat is paid, then it is not convinced it is not cancer, and even if he owns billions of dollars, as long as he's paying Zakat, then this is not cancer and he will not be blamed for being wealthy on the Day of Judgment. You will not be blamed for being wealthy, you will be blamed for not paying zakat.
So this is really important here one
what is the wisdom of Zakat, once a cat is paid yet one, there are no individuals and communities will benefit from it. And who are the individuals There are two types of people there's a catch payer and the ones the one who receives is a cat, the second player will have his heart purified from from a greed from stinginess, from love for this dunya. So it's hard to be purified his world will be will be purified because when we do business, we might conceal some, some some defects, we might give the wrong information to the client, we might delay the delivery of our merchandise we might do. You know might do thing we may if you are an employee, you might go lay to work. You might
have some shortcomings in your interactions with the clients or the customers. So there are some problems with your wealth when you're paying zakat. Insha Allah, your wealth will be purified. Hopefully you will not be taken to account for these shortcomings will allow you to add an item especially if you increase you add to that, you know some charity voluntary charity in sha Allah all of this will be purification to your wealth. And also it is a growth because Allah subhanaw taala said it will cause your wealth to grow Allah subhanaw taala said in the Hadith producing nothing in Adam and Eve
This is promise from Allah Oh son of Adam Hardy's producing, Oh son of Adam stand, and we will spend on you.
And Allah subhanaw taala is more generous than every human being on Earth.
Okay, and we know that the rewards of every good deed is from 10 is every good deed is multiplied from 10 to 700. And there are people who has seen it in this life before the day of judgment, they gave something for the sake of Allah subhanaw taala, within 24 hours, they go to a gift method multiply the same number amount multiplied by 10 for life, this is something that happened to some people, they have seen it, they were not expecting this money coming to them, but they gave for the sake of Allah subhanho wa Taala and they were rewarded in this dunya and this is a way Allah subhanaw taala you know, you know, does it this way to send the message to the believers that this
is what they promised and you see this is, but we of course, what you are waiting for what we are expecting, what we want is the reward of the Day of Judgment, but if you get something in this Daniel Hamdulillah, it's beautiful.
So now, we got this meanings from the mean the linguistic meaning of Zakat, because we know the linguistic meaning of the word Zakat in Arabic It means an amount increase and growth. It means the hora which is purification, it means Baraka, which is blessing. So all these meanings, we got them from the linguistic meaning of the word Zakat, but there are some ayah that confirm these meanings. methoden inshallah Toba Allah subhanaw taala said, address the Messenger of Allah sallallahu alayhi wa sallam whom in Amman in saga pattern to Takahiro which is a key hibiya or salire la mina salatu wa t o hemmati saw the card which is me or
the cat, there is an agreement between all the scholars the word sadaqa here means this is a cat obligatory is a cat.
So take you know the cat from the wealth to the heroine so you can purify them with this record, which is a key in BIA and then you Sanctify them was only Allah him invoke Allah blessings upon them verily use a lot your advocate invocations for them are a source of security for them second lab, source of tranquility. So the source of security. So it is all about security, both tranquility, about purification, about growth about an increase, it is not a burden Zakat is not a burden be the light on now, this ayah when Allah subhanaw taala was talking to the Messenger of Allah telling him what
t Does it mean that he will take the second and put it in his pocket?
It was haram for us to benefit from Zakat money. And all his family members are not supposed to take from Zach at all when you Hashem and Ben are metallic. Not when you Abdal metallic venerable Pollock who's who is the brother of Hashem
they were brothers. And Hashem was the immediate, not the immediate, the Abdulmutallab was the immediate grandfather for sunglasses celebrated metallic was the son of Hashem, who passed away in huzar. In 497, without Allah Allah in the Common Era, so, so here the family of Hashem, the family of immortality, endless unless I sell them, and his immediate family members, all of them are not allowed to take from zakat. But as soon as I saw him told more either mutual what he sent him to Yemen, he told him that you need to call people to to read number one. He was sending more as to Yemen to invite people to the deen of Allah subhanaw taala call them to tell him to believe in Allah
subhanaw taala and reject all the other idols in deities. And then if we believe in that cause them to invite them to establish the five daily prayers second step. And then he said if we start establishing the prayer, then let them know that Allah subhanho wa Taala in the laughter of him saw the pattern of wanting to huddling up near a watchword to Allah for him. So let them know that Allah, Allah has, you know, imposed upon them an obligation in the old day wealth
sadaqa Zakat that should be taken from their wealthy distribute it amongst the pool. So the hackamore the government has no right to take from the zakat. It is to be taken from the wealthy people and distribute it among the poor will allow to Allah so this is the first person who will benefit from Zakat Is this a cash paid the one who pays the second the second one who received the cash will feel good about the rest of the members of the community. His heart will be cleansed inshallah, from
crutches from ill feelings from destructive jealousy
you will have good relationship with the rest of the community members
and he will feel that you know he has brothers in this community who are helping Who are you know they are not greedy they are not selfish
so there's a cat you know the one who received the cat will have a good feeling will feel good about the rest of the community will allow to add number three we said it reinforces the social fabric and it maintains the power of the Islamic brotherhood
and it will help into building inshallah strong and stable communities, because people will be united,
as I said, and they will feel good about each other and they will treat each other with respect. You know, the wealthy will be respected because they are they're doing their job, they're fulfilling their obligations, and the poor and the needy are, you know, are taking care of Willow Tada. Now how do we manage our debt payment number one, that that we need to the most important thing that we need to pay attention to when giving Zakat is the intention.
I'm not talking about a class here. That's a different topic of sincerity being sincere when giving zakat. Of course you need to be sincere. Of course, you have to do everything with sincerity with a class, seeking the reward the philosophy or to Allah and the bounties of Allah Subhana Allah to Allah not seeking any reward from the people who will receive this acat or the community members of the leadership of the community, you are doing things for the sake of Allah subhanaw taala. But I'm not talking about this I'm talking about the Zakat, the knee of the cat when you give $100 are you giving it out as as a cat or a charity, you have to know what you are doing. You have to distinguish
between the two. There are two famous cases that usually happen in the community. The first case is when a person gives a loan to someone
$1,000 to Brother Mohammed, right $101,000. And then after one year, Mohammed was not able to pay me back, tell him Mohammed, okay, don't worry about it, I will include it in my second payment.
It doesn't work this way. You when I gave him the 1000 I gave him the 1000 as a loan. I did not give it as as a cat. So I cannot do that.
So I cannot change my intention in the process and say oh, you're not able to pay Don't worry about it. No, I'm not going to take it and then just include it in my packet. And I don't pay 1000 less and I'm supposed to pay 1000 this Ramadan, I already gave a lot to Mohammed, I don't have to pay no, this is wrong. You cannot do it this way. The second issue, famous case, you know community there are brothers who give
charity to different parties, different people throughout the year. And and some of them are self employed. And these are business people, they have inventories. They have they have merchandise to calculate and everything. And I said you know, I don't have to calculate anything I keep giving sadaqa throughout the year. They are Hey, did you give this other part with the intention of a regular sadaqa Ola with the intention of paying Zakat, it's okay if you do it. If you pay security in advance. If you pay your executor monthly payments, monthly installments, that's okay, that's fine.
But you have to have the intention of paying zakat. At the end of the year. If you are a businessman, you need to do your math, you do a calculation because maybe you paid only throughout the repeat only $600 at the end of the year. You You're supposed to pay like $1,000 so if you say oh I pay $600 I don't have to calculate anything no yeah. You have to know you do your homework, you have to calculate your wealth. Maybe you are supposed to pay $1,000 at the end of the year, then you will be sure that with 4000 will give you at the end inshallah maybe half an hour for q&a session. Just remember the the question.
So so this is really important that you do your calculations at the end of the year, but it's okay to pay your Zakat in advance. Allahu taala. Now the nisab The nisab is the amount Muslims net worth must exceed for them to be obligated to pay this occurred. This is an ISA. So number one is you pay attention to
what intention you're near. And number two, you have to know how to calculate this acat the Nisa. So the Nisa at the time of Rasulullah SLM was very simple.
So this is the
One of the important zeca theorems,
you have to know your the minimum amount of wealth that you have. It makes you, you know, obligated to pay the zakat. At the time of Rasulullah. Saw Selim, we used to
call them you have to have 20 dinars for gold if we talk about gold, and I said their currency was very to gold, the first type of currency, so they have to have 20 dinars. And this is the nisab if it stays with a person for one year, when he is supposed to pay one half of dinner
if he has more than 2.5% following the Islamic calendar, if we follow the solar calendar, we have a different number. Unfortunately, we forget sometimes to mention this different number but we'll talk about it today inshallah, slightly different, but big difference there is no big difference and their second currency was made of silver, their ham is made of silver. So they have to have 200 Durham's
and the pay five Durham's on this of course, and this 200 otherwise if they have if they have more than they have to pay 2.5% Okay. And for example, if we look at cheap
sheep
you have to have the Nisar for sheep 40 sheep
if you have 40 up is a cat one sheep. You give it out as a cat
and one sheep the price of one sheep at the time for Salah Salem was between the average between half a dinner to one dinner
once a hobby
used to help us last assylum I think Ron will appear on the alojado so let's I sell him gave him one time one dinner. He said go to the market and and bring me a sheep buy one sheep for me.
So he went to the marketplace and he got one sheep for one dinner.
And then sorry, he didn't get one sheep he gets to he found them very cheap. So he got to a solar cell and told him to bring one but he said I can get two with one dinar so he got two
and then he was coming back. Going back to her. So last I sell him to give him his two sheep
when he met someone and he said okay, are you willing to I need one sheep? Are you willing to sell me one sheep? So it's okay. He's working now doing business on behalf of razzle dazzle. So he sold him.
One sheep, one of them for one dinner. He bought them for each one for half a dinner he sold the second one or one of them for one dinner. So he went back to them with one dinner. The same money that he got from him and one cheap.
So it was the last I sell him was amazed. He said How did you do it? And he told him about the story about his story. So Tomas Assalam kala, he made it to Allah subhanaw taala for him Allahumma barik la houfy Safa Katia meanie
Oh Allah bless his business transactions that was
made by Ursula cilenti the smell. And what did he say after that? He moved from Medina to El Kufa, Iraq, and he said, I used to go to the marketplace and make sometimes 40,000
I don't know they're hempsell dinners, dinners, that would be a big huge amount of money. He said 40,000 before going back to my family.
So Alice pelota Allah bless his business transactions. But the point here is that one sheep at the time for some last assylum was half a dinner or one dinar
Okay, so now this is very simple, very easy. They don't have to go to the website and check the price of gold. Now we don't have dinars. And we don't have theorems. We have paper money. How do we calculate now our socket
usually they said we don't care here about cheap we don't talk about cheap but I need to we need this information later on. This is that was their money at the time for us last s&m Golden silver.
That was their money. So we need to calculate our money now.
And now we use paper money. So some ruler Murphy said that you have to look at the price of gold and the price of silver and then
When you miss up reaches one of them you know the the nisab for
for for 20 dinars in grams is 85 grams of gold
85 grams of pure gold goals because one dinar is four grams point 25 one dinar is four grams point 2525 four point 25 the total would be 85 grams of pure gold
and the nisab for silver
is 595 195 grams of pure silver.
Now they said the aroma the majority, which I don't agree with is the first time and not the first time but it's rare when I go against the opinion of majority but I'll tell you their argument and the argument of the other scholars.
They said you look at the price of the gold and you look at the price of silver and if your knees are breaches one of them
then you have to start paying zakat.
So yesterday I checked the price in
in the website is called the price of gold price.org and the one gram of gold was 46
point 18 Canadian dollars
46 point 18. That was the price yesterday for one gram of gold. So multiply it by 85 I got
three Canadian dollars. So this is the nisab for gold
3925 that's why usually tells people I usually tell people in
2013 2004 it is between 3000 504,000 I checked the chart to five years it went within five years to up to 5000.
But within these two years 2013 2014 it is between 3500 to 4000. To be in the safe side you go with 3500 because the price is fluctuating going up and down. So this is the price of the nisab the money that you have to have as of yesterday, before you become you know, obligated to pay this account. But there is a big difference between gold and silver at the time of Rasulullah sallallahu was the same one dinar there the exchange rate at the time. Allah says Allah was one dinner equal to tender hems
in the market. It might go a little bit up to 11. Durham's a little bit down to nine their hands sometimes, but the average at the time for Sula, cinemas one dinner equal in the market to tender hands, it was exactly the same. So they had no issues no problems and the value of these 40 sheep as I said it was almost the same as 20 dinars.
Okay, now let's go to silver.
Silver, we said how what is the nisab of silver how many grams
500 595 grams.
So yesterday as of yesterday, silver was one gram of silver
was 073915
Canadian dollars of course, and the total is 400 because you have to multiply this by this right 440 100 $500 in his account and he has a family he's a poor wealthy
500 maybe it's not enough to pay your rent is not enough to pay maybe your monthly expenses.
So this is the first argument of the scholars who said we have to go with gold standard.
We don't go with silver pieces because the one who has sometimes if there is a big disparity, big difference between the prices of gold and silver. Then if we go with the silver, no standard I mean poor people will be paying zakat.
This is the first argument the second argument they said it is more stable.
It is more stable. The price of gold is more stable.
And I'll tell you about something amazing.
Something amazing about the the prices of sheep at the time for solar, solar wind and their prices nowadays. Nowadays in Canada, not talking about Saudi Arabia, Middle East, in Canada.
So what is the how many grams in one dinner?
Now?
How many grams of gold in one dinner?
For 2425?
Okay, could you do your math? How much is one? One dinar?
You said 46. Point 18. Right yesterday, as of yesterday,
how much is almost $200? Right.
196 196 Canadian dollars, right? Yes.
So we said but the sheep at the time it was the last so could be sold for half a dinar, which is 2.125. Right?
Right 2.125 multiplied by 4690 9899, let's say 99.
These these are this is the range of prices of sheep nowadays in Canada. In last eight, we bought them for 125. Some people bought them for $200, the same price at the time was less than 1400 years ago. Now same prices of sheep, these animals in Canada.
Now, if we go with a silver, how many sheep here you can buy? 440 how many sheep? Can you afford three, maybe two or three, right. But at the time of personalization, we need to have 40 sheep before you can give one sheep out.
And the value of gold is similar to the value of sheep in Canada, for example.
So you see now the
the argument is those scholars who said that we have to go with gold standard, those who said we go with silver, the main argument, their main argument is beneficial for the for the poor and the needy. Because if you have 1000, you pay 25. So someone will benefit from it 1000, you know, based on the price of gold, you don't have the Nissan, but based on the price of silver, you have any sub right 1000 if you have 1000 in your account, so you're gonna pay $25 to the pool in the needy. But still with 1000 if you have a family, Oh, you are single, and you're paying your rent for $500. Let's say you're single,
you're paying rent for $500, maybe or $600.
And you have only 400 left for your food and transportation and, and other expenses. So we are a poor person, you're not a wealthy person. But 4000 you're okay, you're not wealthy, but you're definitely better than someone who has fallen 40 or 500 or 1000. So I'm really confident about gold standard, really confident. But the majority of contemporary scholars are saying gold, silver, it's more beneficial to the poor. I mean,
there is a huge difference between the two prices. And it doesn't make sense. So is this matter clear? If you have a question? We'll we'll deal with it later on shall.
Now how do we calculate our cat? By the way, there is something that you need to pay attention to.
We said the nisab what is the Nisa these days based on the gold standard?
3502.
Yes, yesterday it was 3900 Yes, but I am saying people say this is my HD head, take it or leave it. My SDI to make it simple. Make it simple is between 3000 You don't have to go to the internet all the time.
Between 3500 to 4000 unless you know that the prices of gold the price of gold is going crazy. Then you go and double check. Right. But these days 2013 2014 is going up and down within this range. To be in the safe side. Make it 3500
you know to me it will be beneficial to the poor.
But it's up to you how you manage your security. This is my suggestion.
Now if we if we use this law
Calendar.
If like most people, most people nowadays the basic idea, Ramadan, so Islamic Islamic calendar, we pay only 2.5% if someone is using the solar calendar, like paying Zakat in December before he, before doing taxes and everything, there are people who prefer this, they have to pay 2.577, I want you to know this.
If you are using a solar calendar, you need to pay this 2.577. I don't want to say 2.6 because it's decades.
But this is the exact number that you need to pay. If you are using the sole account.
After one year has passed, you have the nisab you pay this or this? It depends on the way calculate your ticket.
Your deadlines that
time. Now,
how do we calculate our socket? Let's talk about loans. Because there are issues that we need to clarify, before we talk about the final calculation. Let's talk about loans.
If you are the lender, you are not the borrower.
If you are the borrower, we call them debts for the sake of clarification or for the sake of making it easy for people to distinguish between two things, loans, if you gave them out. If you take a loan, we'll call it debt, a debt obligation.
Now, there are differences between scholars, because there are no IRS or ahaadeeth that clarify the issue of loans and debts at the time of things a cat. But the one that the opinion that I will tell you now is the opinion of the Muslim council that is
affiliated with all IC Organization of Islamic countries. And this we have two Muslim councils in the Islamic world. And we are the highest authority in the Muslim world or people are odema professors, students flawless immigrants who respect themselves. And they look for authentic sources of knowledge. We look they respect their decisions, because there are collective the outcome of collective he had, you know, scholars come together from different countries, from Saudi Arabia, from Egypt, from Syria, from Pakistan, from India from different parts of the world. They get together in different countries every three months, four months, they meet in one Muslim country,
you get sometimes 200 scholars there. If they are dealing with financial issues, they invite people who are specialized in the industry of finance, if they are dealing with medical issues, they invite doctors, medical doctors, and then the stay for three days four days studying those issues, issues that are in a well known in the community or there are sometimes organizations that will send them questions difficult questions, matter, an IC or MCC will send a difficult question to this. Something that we couldn't solve here in Calgary would send the question to these Muslim councils. And then after the it's up to them, if they included, they want to include it in their agenda, if
they include it, then they will deal with it within that meeting for three days, four days. And we come up with decisions that are now now well respected by all students of knowledge. I mean, people who
know the right sources of knowledge, so we have to end the third party is the supreme the scholars of Supreme Court of Pakistan. These are three parties that are you know, they're qualified to give fatwas and deal with difficult issues in in the Muslim world. So their decision about loans loans that you gave to other people, they said the one who gave a loan is the inherit, you know owner of this world and thus he is liable to pay zakat every year if there is if he
gave a loan you are the owner of this loan this money gave it to someone else.
You if you are you pay zakat, you included in the calculation I gave you 1000 is not in my hand, right. But at the time of the calculation, I should include it, add it to my wealth, because I am the owner of this 1000 if I'm absolutely absolutely confident that What's your name, machine, that machine will pay me back.
He's doing well.
And he's not denying that you're
doing well. He has a good income
And he's not denying the loan to conditions. So I am absolutely confident that he will pay me back this 1000. Even if he stays with him for two years or three years, I have to include it. In my calculation, it was my choice to give Najib a loan for 1000. It is my choice. I am looking for a reward from Allah subhanho wa Taala. For his Senate. This is an act of worship, giving loans to other people, can you help him? So it's my choice. I'm not using I don't I'm not able to use this money. But I gave it to him. And I'm absolutely confident that he will pay me back. So I should include it added to my wealth. This is clear one, and this will call them good loans. This for the
term of clarification, for the sake of clarification, sorry. We call them good knowns, good loans. And the second case is
if you gave a loan to someone, you are not confident if he will pay you back or not.
Either due to his bankruptcy number one, or his denial of the law, he's denying the loan.
So he's a bankrupt, you know, he's bankrupt. It's very difficult for him to pay you back and you are not just you lost hope. In this money. You don't include it.
You do not add it to your wealth. When you calculate, sorry, when you calculate your Zakat,
or he's not bankrupt, but he's denying he said I didn't take anything from you.
So what happened is after 10 years he makes Toba and he said brother Najib Malaysia, I'm sorry. Now I started praying and fasting and I need to correct my relationships are strengthened my relationship with Allah Yes, I took a loan from you, your money after 10 years.
There are two things here. The Muslim Council which is an authority, good source of knowledge, they say you don't pay zakat immediately on it. You add it to your your wealth, and when times for Zakat payment comes, you pay cash for it. When your deadline comes for your second payment, you pay zakat for it. And there are some scholars who said it's better to pay cash for one year, just one year immediately for this money. And then you keep it with your savings and you keep paying the cash for it every year.
To be in the safe side if you want to pay immediately Zakat for it do it if you want to leave it you don't pay zakat immediately for it. You just leave it with your savings and you pay at the time of your deadline. That's okay that's fine because this is the decision of a well respected field Council is that clear?
Okay.
Now, how do you calculate your pocket
if you are an employee
can you are not a business person they are not self employed.
So, the the owner they said you have to calculate cash in hand or in in the bank account
plus value
value but you need to pay attention to this I will explain it value of your
shares use the market price shares
in the stock market.
But here you need to pay attention if you are a speculator.
You know what this speculation mean?
Okay, a speculator is not an investor. Someone who buys shares like he is a day trader Is he an investor or a speculator?
a day trader is someone who buys and sells shares on a daily basis. He's a speculator he is playing with the prices. He is not an investor. An investor is someone who buys shares with the intention of holding them for a long term dividend returns.
So we buy shares in the company, you don't care about the prices just leave them in this with your broker or in your portfolio in your account with the intention of what collecting dividends from the company.
So here we don't include the value if you are an investor.
Just for the sake of clarification, if you are an investor, you don't include them. If you are
Speaker later they are like Ruru the tiara items for sale merchandise and this ruling of Oh the tiara items for sale is well established in Sharia. So the rhodium mhps with Rolo the tiara something you buy with the intention of selling it again.
So if you are a speculator is that clear now, buying shares with the intention of selling them, the prices go up, you know, after one day, two days, one week loan the same day, you add the value the whole value of your shares.
And you add
good loans, you know, what are good loans now?
Okay, that's good. This will make it easy for everyone shala to and then you know, here, you subscribe. You don't mind a seat, you don't add short
term
loans.
The total
you pay, as I said 2.5 using lunar calendar
2.577.
Solar current
short term Yeah, that's Yeah, just like Aloha.
Because we said we're gonna distinguish between. So that's the money that you
you owe other people the honor you owe them you have to pay them.
So you are a debtor here, you are a borrower.
Here you are a lender.
So good loans, minus short term debts. So what are short term debts for example, I'll give you an example. You owe 101,000. And you agree with him that you pay him in August or, for example.
I will be paying July you'll be paying your cat so it's okay to deduct this 1000 from your value of your wealth. You don't pay cash for it.
Because you will be paying him within a month this 1000 How about long term mortgages and loans? Say someone took a mortgage for 25 years? The owner Maddy said you deduct the value of 12 payments 12 payments
but say you're paying the bank $800 every month, eight by 12 how much 1000 996 100 right 9600 you deducted from your wealth because for that year, you will be paying this money for the bank
to mortgage
it's not a rental payment rental is different rental payment is your expenses our monthly expenses, but this is a loan that you took from the bank which is haram if it is Sharia compliant, but just to let you know
you are allowed to deduct it okay
for the payment of 12 months,
but you don't deduct the payment of 25 years you will never pay zakat you never go to Hajj. So, this is clear inshallah
Okay, how about if you have
if you are
self employed let's say self employed right okay, you have a business.
So, cash in hand for in your bank account plus the value
of
your shares. As I said shares here I mean stock market and if you are a
speculator
if you are an investor, what do you pay cash for?
You don't pay cash for the on the value of the shares if you are an investor
dividends, yes, whatever you collect as dividends, you include them to your savings and you pay cash for them. You don't pay zakat on the value of the shares. If you are an investor and class was what do you say good loans.
Okay and inventory.
Inventory
minus
short
term
loans
sorry,
total and you follow the same formula 2.5 or 2.577.
Now inventory let's deal with inventory for those who have small businesses.
You have to list everything that is for sale that is ready for sale.
But let's say you have a bakery, bakery and you make a bread use
flour, oil, and some other items. You add them make cakes you make you make bread, you make different stuff, right?
Okay, anything that would go into the making this bread or cakes has to be counted listed in the inventory.
How about if you have oil that is used to operate your machines, you don't include it.
The value of the machines, the machines that you have in the bakery, don't include them.
You know pays a cat for these things.
Now, you don't pay the cat for a few few they're not going to sell it.
You include all the ingredients that you will use in the making of this product is it's clear all the ingredients that you will use in the making of this product. include them, how about packaging items to include them?
No, you include them only if they add to the value of the product.
If you are not if you are including their value in the value in the price of the product, then you include them. include them in the inventory. When you calculate you have like this boxes of packages you know, bags or something. If they are expensive. You're including their value in the in the product itself. Then but if they are cheap and you are not like one bag for five cents, and you are including you are not including their value in the in the price of the final product when you don't include them.
You have any question here? sisters feel free if you have question you can. We don't have another you can send write them down or?
Yep.
What about
what about with my work? What savings? Are you paying the nice
for savings like work savings, as you claim after you retire?
Well, we'll talk about that. Yeah. Yeah. We'll talk about it.
Much.
market price.
Yeah.
market price. Yep. Not the word.
favor.
Now if you have RSP any pension plans?
So this is clear now.
You know, the
in the beginning, I said I'm not going to take questions and then I start asking you questions.
I think some brothers felt offended those who I told them. I'll leave the questions at the end.
That's okay. We're humans we forget.
How about pension plans?
So we usually have RSP
and we have
our PP
RSP is Registered
Retirement Savings Plan and this is registered pension plan. Okay. RSP. Yeah, for children.
Yeah, is the same I think it's called registered Education Savings Plan.
The same thing here for children.
So, the basic idea, the basic idea
for you to place the cat on your money you have to have full ownership of your money.
Now the RSP is there are there are two types of rsps regular
SP and there is locked in.
Locked in rsps.
In locked in rsps you are not allowed to take any money.
Your Money is locked in. So you don't have to pay zakat on this money.
You don't have to pay
registered pension plan. Also, if your money is locked in, the government will not allow you to take money from this account. You don't pay zakat on this. Now how about regular rsps, regular rsps they allow you to take money, where they will charge you taxes. And they will charge you some penalties. They go up to 40%. So if let's say you took from your regular RSP 1000
you know that they are taking away from you 40%. Right.
So this is not your money. So he pays a cat on even if you don't take them out, they're stealing the account. If it is a regular RSP up to 60% 60% of what is left, over what is in the account not left. Let's say you have 100,000 in a regular RSP you pay zakat on 60,000. You don't pay zakat on 40,000. Because if you take this money you are and you are able to take it here in this case, you have the right to take it out, they will deduct from you 40% 40% is not your money. You pay only on the capital locked in you don't pay zakat.
Because you could die before you fully benefit from this money. You don't own it, I mean, your ownership is not complete.
And you will be allowed to benefit from it when you retire at the age of 65. So at that time you start getting these payments, then you start paying Zakat for these payments.
RSP you don't have to because you are not allowed to take money RSP for children, you're not allowed to take this money. Your children are not allowed to take this money until they reach the age of 18.
So when they reach the age of 18, they have to pay zakat after they take this money. We pay zakat, but now you don't pay zakat on this money.
Now, are children supposed to pay zakat on their wealth or not?
Now?
Yes, children they are.
They are not mukil left but they are because it is a right that is imposed on wealth not on the person. How about an insane person? Someone who is mentally ill. And he's wealthy is supposed to praise a cat or not? Yes, because his guardian or his father Allah has to pay the cat from his wealth because it is a right that is imposed on the wealth built on the person.
He's not obligated to pray or too fast because he's an insane person. But he's wealthy. So it is a right imposed on the wealth they have to pay. But here in this case, they have no control their their ownership is not complete. So they cannot pay zakat, or they're not supposed to. And they are not supposed to pay here because this is locked in money.
And here it depends. You have to find out if it is regular or
so if it is regular, you add 60% the value of 60% of your money in that RSP you add it to your we just respect the fools rule inshallah, just go with the first rule will leave the questions later on.
Okay.
Of course you need to this information get it from an accountant. Yes, this is a very good point. The brother is saying the 40% that I mentioned, this is a numbers I get a god from brothers different brothers, that they take around 40% if you withdraw money right away, okay. Now if we retire, the taxes will be less for sure. Maybe 10% or something or less. Now, if you know yourself that you withdraw money from your account, and you don't pay anything, if you withdraw money, then you have to pay zakat on the whole amount.
Okay, so this is something that you need to verify with your accountant. This brother is saying there could be some other situations with RSP accounts. So my answer is verify with your accountant. I'm not an accountant. I'm just telling you what they got the feedback that they got from some brothers. He said if you withdraw money from regular accounts, regular RSP accounts he will take 40% away. This is the information he got from a couple of brothers. Now those who deserve the jacket
those who deserve this jacket
Okay number one and fukuhara who are
non
poor, the second one
alma zakim
and we will call them needy.
Okay. And number three,
Alam eluna Allah, these categories are found in which area in which Surah
Surah Baqarah No, these categories eight categories are found in which I saw tetovo which is the number of the ayah 60 Yes, I 16 sora tetovo, Alam eluna Allah employed by the government to collect the Zakat
by the government
to collect
Okay, these are employed by the government.
So, we'll talk about those who are employed in relief organizations. I don't believe they deserve because they are taking their salaries from their organizations. I don't believe the they should be given their salaries from Zakat, because they are not only collecting Zakat, they're collecting other charities and they are dealing with other issues. But those are the time for us unless I sell them their only job duty is to go around and go to other cities and towns and and collect cash from Muslims. This is their job. So the salary comes from zakat. We don't have them nowadays or low Thailand. So and then they will fit Kaluga home will fit Kuru home.
Whatever the colluvial there are, there are two types of people those who just accepted Islam,
especially if they are leaders, because the leaders will affect other people influence other people. So they should be given from Zakat or they're not leaders. But we want to give them a gift help them
show them that we care about them especially if they are in need if they are needed. We might go into this you know first category or second, but you can give them even if they are not in need. You can give them their moral ethical boom those who accepted Islam and the second type those who are not Muslims, but they are inclined towards accepting Islam. So you can give them a gift from Zakat money to attract them to the Dean of philosophy to help them save them from hellfire.
You don't do it for the sake of burning their boots or
to save them from red fire.
And number five Federica who are rehab.
They are captives for slaves. captives are slaves. captives of war are slaves. How about a Muslim who is in jail he committed a crime
okay if he a good Muslim by mistake he committed a crime or killed someone by mistake as an accident. Car Accident is a good Muslim should help him pay from the security and getting getting him out from the get him out from jail. How about if he's a criminal is a very bad person. Yes, he's Muslim, but he is a criminal. Don't help him from the cat because he will go out and commit another crime
number six
those in debt.
So it has to be held that number one, if it is not held that if it is a hora mortgage or Hara if they are making Toba
and they are trying to correct their financial, you know fix their financial affairs issues. You can help them with your ticket if you are sued family members or a friend. He's making telco he wants to leave this mortgage or these business interest based transactions is okay to give them from the Zakat because you are sure about the intention and you are helping them to speed up the process of repentance and Toba. Getting rid of you know this business haram business transactions. So those in debt
and here I want you as Muslims to think about students, our students. include them in your second payments if possible. Students who are taking student loans, our students who are going to university
Many of them are in a desperate situation, you cannot get married, many of them are not able to find a job after graduating. It's not easy. We have a good market. So you're the job market is good but, but it's not easy for everyone. They usually ask me for experience. So they end up with 50,000 sometimes student loans 30,000 35,000 25,000. And even a father, father is not supposed to give his children but in this case, as a father, you are allowed to give your son from user care to help him pay his student loans.
In this case, we don't give him as a needy or a pool because if your son is in need, you have to spend on him.
You cannot give such as as like as a cat to your children. You cannot give the cat to your parents if they are in need, you pay you have to pay for the expenses you are not you cannot give Zakat your grandparents so and it goes up and goes down your children or grandchildren you cannot give them the cash. If they are in need. You have to it's an obligation to spend on them.
Number seven
feasibility law
feasibility law in the way of Allah in the old the classical scholars, majority of classical scholars, not all of them majority, classical scholars, they said this is only two times for two types of people. She had feasability law or students Sheree as students, students of sharing our knowledge, if they are dedicating their life to seeking knowledge in the travel to other cities and they need some expenses you are allowed to give them now now.
It is the decision of the Muslim council not the first one the second one that is affiliated with Robert Atlanta Muslim in the Muslim world league. They made a decision that Allah subhanaw taala if Allah subhanaw taala wanted she had to be Sevilla, he would have said she has visibile feasibility, like anything that would promote Islam. There were massages Islamic schools, Quranic schools, printing books, massage hives, anything that would help the cause of death. Our it is V Sabina and it is a decision as I said of the Muslim faith Council, affiliated with Robert Atlanta Muslim. It's a well respected authority in the Muslim world. That's why here in IC we accept the cat for the
masjid and based on this veteran this decision allowed to add on so majority of classical scholars, they had a different opinion. Now majority of contemporary scholars, they said there are many Muslim organizations in the West and some Muslim countries they don't get help from governments. Because the government Muslim government is supposed to take care of massage. He didn't take care of this. There are organizations a Muslim government but now we don't have these things here in the West Canadian government will not give us money. So so they said it is okay to give your care to build massage it and to our organizations and help and support that our programs. Number seven, right.
Number eight is Sybil who is Vanessa Beale,
who has been a severe
stranded stranded traveler, someone who was like, locked somewhere and he doesn't have money. He could be wealthy in his country. He could be wealthy in his country. But he he's traveling, he was traveling to another country far away from his country. And he lost his money and he cannot go back to his country. Is it possible nowadays?
for this case to happen? I don't think so. Right? Because if you are wealthy back home lacking somewhere your family will send you money unless you have no one there.
But you can contact the bank your bank to make a transfer, right. I mean, it's very simple nowadays. So I don't think any
any other No, I don't believe that this case could happen nowadays with a lot of Thailand.