On Zakat, Jihad and Shariah-Compliance

Shariah Finance Watch ^ | 5 April 2012 | Unknown

[LSUfan]

Here we have two important links that touch on themes that we have covered extensively over the years: Zakat, Jihad and Shariah-Compliant Finance.

The first article from the excellent Gates of Vienna blog, points out that one of the destinations of zakat (tithing in Islam) is “those fighting in the way of allah…”

http://gatesofvienna.blogspot.com/2012/04/on-zakat-and-jihad.html

The second article ties zakat to Shariah-Compliant Finance. It is a column out of Malaysia, one of the global centers of Shariah finance, that points out–in detail–Shariah-Compliant companies are in fact liable for zakat payments.

Shariah-compliant companies, either fully owned by Muslims, or jointly owned by Muslims and non-Muslims, or fully owned by non-Muslims, all are liable to pay ‘zakat’.

http://www.alfalahconsulting.com/2012/04/malaysia-syariah-compliant-companies.html

So there you have it: Shariah requires that Shariah-compliant entities of all types and under all forms of ownership pay zakat. Shariah also mandates that Jihad is one of the eight destinations of zakat.

In a nutshell, that is one of the biggest concerns about Shariah-Compliant Finance, yet nobody in the West seems to be listening…