Side Hustles 🤌

𝗠𝗮𝗱𝗿𝗮𝘀𝗮𝘁𝘂𝗻𝗮 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 (54) How to Calculate Your Annual Zakah

Sheikh Abdussalam Ash-Shuway'ir explains:

I will explain to you an easy way to calculate zakat. Although it is slightly outside our main topic, I believe it is very important and beneficial. The basic rule in calculating zakat is that a person should fix one specific day each year to calculate it. For example, let us say it is the first day of the month of Muharram every Hijri (Islamic lunar) year. The scholars unanimously agreed — as reported by Ibn Hazm and before him Imam Ash-Shafi‘i (may Allah have mercy on them) — that zakat must be calculated according to the lunar (Hijri) year, not the solar year. So it must be based on twelve lunar months. When that fixed day arrives each year, a person should divide his calculation into four “containers” (or categories). Three of them are positive (they are added together), and the fourth is negative (it is subtracted). This is how the calculation works. Abu ‘Ubayd Al-Qasim mentioned in his book Al-Amwal that the well-known scholar Maymun ibn Mihran explained this method in a similar way. Now, when that day comes: First container (positive): Gather all the cash you own — every bit of it. Even the coins in your pocket. Count everything: money in your bank accounts, wallet, pocket, drawer — all your cash. For example, suppose it totals 20,000. This goes into the first container (to be added). Second container (positive) Look at trade goods — items you own that were bought for business and resale. Trade goods include anything besides gold, silver, or cash that you intend to sell for profit. Trade goods are valued at their current market price on that exact day (the first of Muharram). For example: If someone owns merchandise in a shop, he counts all the goods and estimates their wholesale value that day. If someone owns shares (stocks) bought for trading (buying and selling regularly), he looks at their market value on that day. Let us say the total value of trade goods is 10,000. Now we have: 20,000 (cash), plus 10,000 (trade goods) = 30,000 Third container (positive) Now look at money others owe you (debts owed to you). Debts are included if: They resulted from selling goods on delayed payment. They are loans given to someone who is able and willing to repay (not someone delaying unfairly, not denying the debt, and not bankrupt). Suppose someone owes you 20,000 and he is trustworthy and able to pay. This amount is added. But debts are NOT included if: The person keeps delaying payment, the person denies the debt and there are court disputes, or the person is bankrupt and unable to pay. So now: 20,000 (cash), plus 10,000 (trade goods), plus 20,000 (debts owed to you) = 50,000 Fourth container (negative) Now look at debts you owe — but only debts that are due IMMEDIATELY on that same day (the first of Muharram). For example: Utility bills (electricity, water, phone) that must be paid now, wages owed to workers, money owed to a supplier or shopkeeper, any immediate payable debt, etc. Suppose the total debts you owe right now are 10,000. Now subtract: 50,000 − 10,000 = 40,000 This means your zakatable amount is 40,000. Calculating the zakat Zakat is one-fortieth (2.5%). 40,000 ÷ 40 = 1,000 So the zakat due is 1,000. The matter of zakat is simple. Maymun ibn Mihran said: “When the day of your zakat arrives, gather all your wealth, value your trade goods, look at the debts owed to you, subtract the debts you owe, and then give one-quarter of one-tenth (2.5%).” This is the method mentioned by the scholars. Source: https://t.me/madrasatuna/5975

𝗦𝗶𝗱𝗲 𝗛𝘂𝘀𝘁𝗹𝗲𝘀 (11) 🤌 Digital Currencies, Stock Market and Shares Digital Currencies: * Should be avoided, as they carry much doubt (shubha) and are not recognised by central banks of countries. * Though used in some non-Muslim countries like Japan and Germany, their official acceptance is lacking, so their use is not recommended. Stock Market and Shares: * The vast majority of stock companies and market transactions involve haram elements * Impermissible Companies Include: (a) Companies involved in haram products or services, e.g., alcohol, gambling, haram entertainment and tourism industries (b) Companies involved in halal products or service, but also involve haram elements, such as engaging in riba transactions. * Only shares in companies free of prohibited elements are be permissible, but these are rare; these are commonly productive investment companies, e.g., cement or fishery businesses. * Such companies must be operational and not under construction, free from prohibited dealings. * Even “Islamic banks” often engage indirectly in riba, so one should not be deceived by attractive names. Summarised from Sheikh Najeeb Ash-Shar’abi ḥafidhahullāh Source: https://t.me/sidehustlez/124

𝗦𝗶𝗱𝗲 𝗛𝘂𝘀𝘁𝗹𝗲𝘀 (8) 🤌 Ruling on Buying and Selling Online Question: A brother asks about the ruling on buying and selling via the internet, where some items are offered for sale and their owners promote them. The seller requires payment to be made through a money exchange service, after which the item is sent, and it may be delayed beyond the agreed time. Alternatively, it may be agreed that the buyer places the money in a specified location and then takes the item. Is such a sale valid, or does it involve any doubt? Sheikh Rashād Adh-Dhali'ee hafidahullah If the item is known or is precisely described as a liability (owed item), and it is not among the categories that require immediate exchange (simultaneous possession), then this is permissible. If the buyer sees it through an actual image or it is described with clear, well-defined characteristics, so that it is a known item and not one that requires immediate exchange, then it is permissible to purchase it, and there is no problem with that. Source: https://t.me/sidehustlez/121