(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants Fourth Series ZAKAT Zakat On Tradable Goods. - Is zakat due on anything purchased with the intention of reselling? Zakat is due on anything purchased with the intention of reselling the item (e.g. business inventory, real… Read More Islamic Finance Questions and Answers
(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants Third Series ZAKAT Zakatable Property And Zakat Rates. - What property is zakatable and what are the zakat rates? One must pay zakat annually on the following items held for at least one lunar year: Gold… Read More Islamic Finance Questions and Answers
(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants Second Series ZAKAT Giving Total Zakat To Single Person. - May I give all my zakat to a single person? It is permissible to give all of one’s zakat to a single person, but this becomes… Read More Islamic Finance Questions and Answers
(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants First Series ZAKAT Zakat - What is zakat? “And perform the prayer, and pay the alms; whatever good you shall forward to your souls’ account, you shall find it with God; assuredly God sees… Read More Islamic Finance Questions and Answers
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