AAOIFI Shari'ah Standard # 35: Zakah

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AAOIFI Shari'ah Standard # 35: Zakah

Description: The course will cover the AAOIFI Shari’ah Standard for Zakah from the basics of when Zakah becomes due, to the types of wealth subject to Zakat, and the  liabilities  or  allocations  that  should or should not be deducted from Zakatable assets.

Start Date: March 6, 2022

Day/Time: Sunday 10:45 AM UTC

Course Duration: 4 weeks (50 min)

Main Topics:

  • Definition of Zakah, Status, and Zakatable funds 
  • Conditions for Zakah obligation
    • Full ownership 
    • Nisab (Zakatable wealth stratum) 
    • Al-Hawl (Zakah year) 
  • Methods of Calculation of Zakah Base 
    • Fixed Assets 
    • Income-generating fixed assets
    • leased assets 
    • Real estate investments 
    • Investments in shares 
    • Bonds, Sukuk and funds 
    • Cash security charged to individuals 
    • Articles of Trade
    • Debtors in an insurance portfolio 
  • Liabilities and Provisions