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Scientific Publishing Center
Document Details
Document Type
:
Article In Journal
Document Title
:
Zakah on Stocks: Some Unsettled Issues
زكاة الأسهم: قضايا لم تحسم
Subject
:
Book Review
Document Language
:
Arabic
Abstract
:
Issues relating to zakah on equity shares are far from settled if one considers the available fatawa and observed practices in many Muslim countries. The most basic questions pertain to the correct method of valuation of equity shares for the purpose of estimation of zakah liability. This paper reviews alternative methods of valuation and argues in favour of market-based valuation. It also raises serious questions on the permissibility of exemption of fixed assets from zakah liability in the accounting based framework, notwithstanding its actual use in some Muslim countries. A market-based valuation framework is rooted in the notion of market efficiency, which dominates modern finance theories for over a century. The paper seeks to push forward the concept of "average price" as the basis of valuation as also of estimating zakah liability. It argues that the concept not only follows logically from the efficient market theory, but also is backed by sound Shari'ah evidence.
ISSN
:
1018-7383
Journal Name
:
Islamic Economics Journal
Volume
:
21
Issue Number
:
1
Publishing Year
:
1429 AH
2008 AD
Number Of Pages
:
26
Article Type
:
Article
Added Date
:
Sunday, October 11, 2009
Researchers
Researcher Name (Arabic)
Researcher Name (English)
Researcher Type
Dr Grade
Email
عبدالعظيم إصلاحي
AbdulAzim Islahi
Researcher
محمد عبيدالله
Mohammed Obaidullah
Researcher
Files
File Name
Type
Description
21224.pdf
pdf
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