Zakat on Money from the Point of View of Shia and Sunni Jurisprudents and Estimation of Its Potential Capacity for Iran Economy (1387-1389)
Document Type : Research Paper
Authors
1 Associate professor, Faculty of Islamic studies and economics, Imam Sadiq University
2 Ph.D. candidate in economics, Faculty of Islamic studies and economics, Imam Sadiq University
Abstract
While the Islamic texts imply that Zakat is sufficient for poverty alleviation, the empirical researches show that the amount of Zakat is insufficient to remove poverty. To answer to these debates, different hypotheses are suggested. One of them is that zakat has been imposed only on gold, silver, wheat, barley, dates, raisins, cow, sheep, camel (according to the idea of prominent Jurisprudents of Shia), but the interpretation of gold and silver is different and can be generalized to the money. By this interpretation we can answer that doubt. This research evaluates the idea of Shia and Sunni Jurisprudents and calculates the potential capacity of Zakat on money and examines its sufficiency to eliminate poverty. The results show that Zakat on money calculated according to bank deposits of the private sector is considerable but that of coins and banknotes in not.
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