DOCSLIB.ORG

Fatwa- Payment of Zakat in Dinar and Dirham

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fatwa- Payment of Zakat in Dinar and Dirham SEQUOIA CLUB Duissit vent volorper si endre erat FATWA ON THE PAYMENT OF ZAKAT USING DINAR AND DIRHAM WHITE PAPER written by Shaykh Umar Vadillo. This paper looks at the matter of paying zakat with the shariah currency of the gold dinar and the silver dirham. 'Establish the prayer and pay zakat and obey the Messenger so that perhaps you may gain Mercy.' Qur'an 24:54 (and 28 other similar references) 'The men and women of the believers are friends of one another. They command the right and forbid the wrong, and establish the prayer and pay zakat, and obey Allah and His Messenger. They are the people Allah will have Mercy on. Allah is Almighty, All-Wise.' Qur'an 9:72 'Take sadaqa from their wealth to purify and cleanse them.' Qur'an 9:104 'Collected sadaqa is for: the poor, the destitute, those who collect it, reconciling people's hearts, freeing slaves, those in debt, spending in the way of Allah, and travelers. An obligation imposed by Allah. Allah is All-Knowing, All-Wise.' Qur'an 9:60 "Islam is based on five: testifying that there is no god but Allah and that Mu- hammad is the Messenger of Allah, establishing the prayer, paying the zakat, the fast of Ramadhan and the Hajj." Wadi’ah Nusantara Fatwa on the payment of zakat using dinar and dirham Ibn 'Abbas said, "The Messenger of Allah, may Allah bless him and grant him peace, sent Mu'adh to Yemen and said, 'Call on them to testify that there is no god but Allah and that I am the Messenger of Allah. If they obey you in respect of that, then tell them that Allah has made the five prayers obligatory for them every night and day. If they obey you in respect of that, inform them that Allah has made it obligatory for zakat to be taken from their property and given to their poor.'" Ibn 'Umar reported that the Messenger of Allah may Allah bless him and grant him peace, said, "I have been commanded to fight people until they testify that there is no god but Allah and that Muhammad is the Messenger of Allah and es- tablish the prayer and pay the zakat. If they do that, their lives and property are protected from me except for the right of Islam; and their reckoning is up to Al- lah." 1. The Present Mishandling of Zakat These ayats and hadiths referring to zakat are accepted by every Muslim. No Muslim denies the central role of zakat in Islam as an indispensable pillar of equal importance to the prayer, denial of which is tantamount to unbelief. In- deed, Allah couples prayer and zakat together in the Qur'an nearly thirty times and the mufassirun say that this indicates that the two actions are interdepend- ent, meaning by that that your prayer is not acceptable unless your payment of zakat has been properly discharged and vice versa. Yet in spite of its pivotal na- ture and people's nominal affirmation of it, it is absolutely clear that the vast ma- jority of Muslims do not give zakat the prime importance it is due. Most Muslims realise that they should pay something called zakat. Some think that they have fulfilled their obligation in full by paying their zakat al-fitr at the end of Ramadan. Many more know that zakat has something to do with two and a half percent though few know exactly of what. A large number even attempt to pay zakat, though usually in a very haphazard way, and, at best, it is considered in the light of an obligatory act of private charity. People certainly do not treat zakat as if the validity of their prayers depended upon its correct disbursement and many pay no attention to it whatsoever. There are several reasons for this current disregard of zakat. Foremost among them is the present dislocated political situation of the Muslims throughout the world. As long as the Dar-al-Islam remained a unified political reality the institution of zakat retained its integral role as part of the economic fabric of Muslim society. With the fall of the Khalifate, however, under the treacherous onslaught of Arab and Turkish constitutionalists and nationalists as- sisted and egged on by their kafir paymasters, and the subsequent dismember- ment of the Muslim Ummah, the shari'a lost its central position in Muslim soci- ety and one of the major casualties of this was the institution of zakat. Wadi’ah Nusantara Fatwa on the payment of zakat using dinar and dirham The new post-colonial "Muslim" nation states were all founded upon kafir con- stitutions. All constitutions in the world are based on three universal pillars that preserve capitalism as the motor of the political and economic system. Those three pillars are: 1.Central Bank 2.Law of Legal Tender 3.National Debt These three elements are alien to Islam and forbidden by the Sharia. The first one institutionalises the banks even in so-called Islamic constitutions. The existence of the Central Bank, which is the mother of riba institutions in every Muslim country guarantees the preservation in the law, of all other banks. The Law of Legal Tender, is against the fundamental principle of trade in the Shariah, that stands for “a an tarad dim minkum”, that is, [trading] with mutual consent. It is forbidden in Islam to impose any particular merchandise as a means of payment, even the Dinar. The fundamental principle that governs ALL commercial transac- tions is freedom to choose. Thus the present system of paper money which has no value other than by the compulsion of the State is in direct conflict with the fundamentals of freedom. Legal Tender Law guarantees that the population is enslaved through inflation to a system of credit money dominated by the banks. The system also preserves the domination of foreign currencies in the international arena. And the Law of Na- tional Debt makes every citizen liable to the debt incurred by the State. This, needless to say, not only is forbidden because the debt carries riba, but as a prin- ciple making somebody else liable to someone else's debt has no basis in Islam. This constitutional model has served to preserve capitalism as the ruling mecha- nism of our economic life. This inevitably denied zakat its vital fiscal status and turned it into the matter of private personal piety. But zakat is definitively a po- litical matter not a private one. It is a matter of the public sphere not the private sphere. Its collection and distribution are a matter of Muslim governance not pri- vate charity. This cannot be overstated because not only has zakat now been re- moved from the public arena but nearly all the Muslims think that this is the way things should be. This is categorically not the case. Failure to grasp this has been a main contributory factor to the political weakness of the Muslims in the world today. In one of the ayats from Surat at-Tawba quoted above, Allah, tabaraka wa ta'ala, says to His Messenger, may Allah bless him and grant him peace, "Take sadaqa from their wealth to purify and cleanse them." Wadi’ah Nusantara Fatwa on the payment of zakat using dinar and dirham The word "sadaqa" is used in the Qur'an both in the general sense of all charita- ble giving and also in certain contexts with the specific meaning of the obligatory act of zakat and the mufassirun are agreed that this ayat can be taken as referring to zakat. The important point about it in the light of what we have just been discussing is the use of the imperative tense in the verb "take". Allah ta'ala orders his Messen- ger to take zakat from the people. He could have ordered people to give it, as He does in other ayats. 'Order people' in a general sense, to take from what they have, and in this specific instance where zakat is intended, He orders it to be taken. Confirmation that this was the generally understood meaning of the ayat can be gleaned from the fact that after the death of the Prophet, may Allah bless him and grant him peace, the Arabs who refused to pay zakat to Abu Bakr, may Allah be pleased with him, did so on the basis of this ayat, saying that because it was in the singular tense it only referred to the Prophet himself and was, therefore, ab- rogated by his death. This was of course not applicable since there are many ayats addressed to the Prophet, may Allah bless him and grant him peace, which bear a general significance. The point here, however, is that it was a recognised fact that the nature of zakat is that it is not something left to be given by those who owe it but something which is taken by the leader of the Muslims. This construction is further strengthened by the famous words of Abu Bakr, the Khalifa of the Muslims, to Umar ibn al-Khattab during the incident referred above when Umar counselled him against fighting the tribes who were refusing to pay zakat. Abu Bakr said, "By Allah, I will fight anyone who makes a distinc- tion between the prayer and zakat. Zakat is the right which is due on wealth. By Allah, if they refuse me a hobbling rope which they used to pay to the Messenger of Allah, may Allah bless him and grant him peace, I will fight them for it!" The important words for us in the present context from this great statement are "refuse me".
Load more

Recommended publications
  • 286-294, 2011 Issn 1991-8178
    Australian Journal of Basic and Applied Sciences, 5(7): 286-294, 2011 ISSN 1991-8178 Islamic Financial Culture: Alternative Economic System for Rapid and Sustainable Economic Growth in West African Countries 1Adesina-Uthman Ganiyat Adejoke, 2Ibrahim Olatunde Uthman, 3Taofiq Hassan and 4Shamsher Mohd Ramadili 1Department of Accounting and finance University Putra Malaysia 2Department of Arabic and Islamic Studies University of Ibadan, Nigeria 3Department of Accounting and finance University Putra Malaysia 4Graduate School of Management University Putra Malaysia Abstract: West African countries are wealthy countries with abundance of both human and natural resources. Some of its member countries are leading member of the OPEC countries. Surprisingly poverty in West African countries is at an alarming rate. Most of its countries are categorized as underdeveloped countries with highest rate of corruption in the world. It is characterized by very weak economies and very low growth rates. There is prevalence of abject poverty as a result of poor economic managements. They have unstable national currencies which are ever losing value and the masses of their rich country live below the poverty line according to UN classification. This study therefore attempts to unravel ways to employing Islamic financial system as an alternative economic system for rapid and sustainable economic growths in West African countries. The study highlights how Islamic money culture, Islamic financial engineering and other Islamic mechanisms such as the gold payment system, Sukuk, Waqf and Zakah systems can become tools in solving the poverty-ridden conditions of West African countries and their teeming populations. Empirical evidence from Malaysian Sukuk forward rates and inflations revealed that Sukuk forward profit rates have positive effects on real economic growth and have the likelihood to keep inflation at its low.
    [Show full text]
  • Implementation of the Gold Dinar: Is It the End of Speculative Measures?
    Journal of Economic Cooperation 23 , 3 (2002) 71-84 IMPLEMENTATION OF THE GOLD DINAR: IS IT THE END OF SPECULATIVE MEASURES? Dr. Abu Bakar Bin Mohd Yusuf * Nuradli Ridzwan Shah Bin Mohd Dali* Norhayati Mat Husin* The Asian economic crisis, which occurred in 1997, hit the Malaysian and neighbouring countries economies badly. Thailand and South Korea had to turn to IMF rehabilitation funds to ensure that they could revive their economic growth. Suprisingly, Malaysia took an unorthodox way by implementing capital control and pegging the National Ringgit Malaysia at 3.80 to the US dollar. Prime Minister Dato Seri Dr. Mahathir Mohamad blames speculators which contributed heavily to the country's depreciating currency value, thus affecting the overall national economic condition. Even though the SEA countries are feeling the pain from the crisis, their overall economic conditions are moving towards positive reactions after several economic measures have been taken by the affected countries. In the process of economic recovery, Malaysia is searching for an alternative solution to decrease the possibilities of being attacked by speculators. Prime Minister Dato Seri Dr. Mahathir Mohamad first expressed interest in a universal currency that could help unite Muslim countries after attending the OIC summit in Doha, Qatar, in November 2000. This paper will discuss whether the implementation of the universal currency, or the Gold Dinar will stop the speculators’ menace. 1. OVERALL FINANCIAL CRISIS Asia was slashed down by the international financial crisis which spread to other continents. Consequently, efforts to strengthen the architecture of the international financial system, involving finance ministries and central banks from both developed and emerging market economies, have been made.
    [Show full text]
  • Treasury Reporting Rates of Exchange As of March 31, 1965
    iA-a 1902 (lTlslon of Central Account* and Reports ipproTed 10/63 TREASURY REPORTING RATES OF EXCHANGE AS OF MARCH 31, 1965 TREASURY DEPARTMENT FISCAL SERVICE BUREAU OF ACCOUNTS TREASURY REPORTING RATES OF EXCHANGE AS OF MARCH 31, 1965 Prescribed pursuant to section 613 of P.L. 87-195 and section 4a(3) of Procedures Memorandum No. 1, Treasury Circular No. 930, for pur­ poses of reporting, with certain exceptions, foreign currency bal­ ances as of March 31, 1965 and transactions for the quarter ending June 30, 1965. RATES OF EXCHANGE COUNTRY F.C. TO &1.00 TYPE OF CURRENCY Aden 7.119 East African shillings Afghanistan 65.00 Afghan afghanis Algeria 4.900 Algerian dinars Argentina 149.5 Argentine pesos Australia .4468 Australian pounds Austria 25.74 Austrian schillings Azores 28.68 Portuguese escudos Bahamas .3574 Bahaman pounds Belgium 49.62 Belgian francs Bermuda .3577 Bermudian pounds Bolivia 11.88 Bolivian pesos Brazil 1825. Brazilian cruzeiros British Honduras 1.430 British Honduran dollars British West Indies 1.714 British West Indian dollars Bulgaria 2.000 Bulgarian leva Burma 4.725 Burmese kyats Cambodia 34.49 Cambodian riels Canada 1.075 Canadian dollars Ceylon 4.758 Ceylonese rupees Chile 3.410 Chilean escudos China (Taiwan) 40.00 New Taiwan dollars Colombia 13.85 Colombian pesos Congo, Republic of the 150.0 Congolese francs Costa Rica 6.620 Costa Rican colones Cyprus .3568 Cyprus pounds Czechoslovakia 14.35 Czechoslovakian korunas Dahomey 245.0 C.F.A. francs Denmark 6.911 Danish kroner Dominican Republic 1.000 Dominican Republic pesos Ecuador 18.47 Ecuadoran sucres El Salvador 2.500 Salvadoran colones Ethiopia 2.481 Ethiopian dollars Fiji Islands -3935 Fijian pounds Finland 3.203 Finnish new markkas France 4.900 French francs French West Indies 4.899 French francs Page 1 TREASURY REPORTING RATES OF EXCHANGE AS OF MARCH 31, 1965 (Continued) RATE OF EXCHANGE COUNTRY F.C.
    [Show full text]
  • Perkembangan Perekonomian Ekonomi
    i PERKEMBANGAN PEMIKIRAN EKONOMI ISLAM i Sanksi Pelanggaran Hak Cipta Undang-Undang Republik Makassar No. 19 Tahun 2002 tentang Hak Cipta Lingkup Hak Cipta Pasal 2: 1. Hak Cipta merupakan hak eksklusif bagi pencipta dan pemegang Hak Cipta untuk mengumumkan atau memperbanyak ciptaannya, yang timbul secara otomatis setelah suatu ciptaan dilahirkan tanpa mengutrangi pembatasan menurut peraturan perundang-undangan yang berlaku. Ketentuan Pidana Pasal 72: 1. Barang siapa dengan sengaja atau tanpa hak melakukan perbuatan sebagaimana dimaksud dalam pasal 2 ayat (1) atau pasal 49 ayat (1) dan (2) dipidana dengan pidana penjara masing-masing paling singkat 1 (satu) bulan dan/atau denda paling banyak Rp 5.000.000.000,00 (lima milyar rupiah). 2. Barang siapa dengan sengaja menyiarkan, memamerkan mengedarkan, atau menjual kepada umum suatu ciptaan atau barang hasil pelanggaran Hak Cipta atau Hak Terkait sebagaimana dimaksud dalam ayat (1) dipidana dengan pidana penjara paling lama 5 (lima) tahun dan/atau denda paling banyak Rp 500.000.000,00 (lima ratus juta rupiah). ii DR. ABDUL RAHIM S.Ag,M.Si,MA PERKEMBANGAN PEMIKIRAN EKONOMI ISLAM PENERBIT YAYASAN BARCODE 2020 iii PERKEMBANGAN PEMIKIRAN EKONOMI ISLAM Penulis: Dr. Abdul Rahim,S.Ag.,M.SI,MA Tata Letak/Desain Cover: Sulaiman Sahabuddin, S.Pd.i Editor : Juhasdi SE,MM Copyright © 2020 Perpustakaan Nasional: Katalog Dalam Terbitan (KDT) ISBN: 978-623-285-080-4 23x15 cm Diterbitkan pertama kali oleh: YAYASAN BARCODE Divisi Publikasi dan Penelitian Jl. Kesatuan 3 No. 11 Kelurahan Maccini Parang Kecamatan Makassar, Kota Makassar Email: [email protected] HP. 0813-4191-0771 iv KATA PENGANTAR Puji syukur kita panjatkan kepada Allah SWT.
    [Show full text]
  • Islamic Credit Cards: How Do They Work, and Is There a Better Alternative?
    Journal of Islamic Banking and Finance December 2017, Vol. 5, No. 2, pp. 1-8 ISSN 2374-2666 (Print) 2374-2658 (Online) Copyright © The Author(s). All Rights Reserved. Published by American Research Institute for Policy Development DOI: 10.15640/jibf.v5n2a1 URL: https://doi.org/10.15640/jibf.v5n2a1 Islamic Credit Cards: How Do They Work, And Is There A Better Alternative? Bukhari M. S. Sillah1 Abstract Credit card, which is one of the noncash payment methods, has been growing exponentially. Credit card generally uses credit balances advanced by the banks to make payments. The banks charge cardholders for using the credit payment system or based on the outstanding balances owed. Charging fees based on the outstanding balances can tantamount to Riba Nasi’ah. To avoid thisRiba, the Islamic banks have packaged their cards based on certain Islamic ‘transaction principles’. These packages include Charge cards, Qard Al-hasan cards, Bay Al-Inah cards, Tawarruq cards, and Murabahah cards.Some of these packages have become subjects of increasing juristic criticism. I review these packages and conclude that they suffer either from reduced Shari’ah compliance or high price.I propose an alternative package that could minimize the juristic criticisms and improve competitiveness. It extends the Tawarruq package by introducing a buy-and-hold element in the ownership of the underlying asset. It eliminates the need for revolving money credit that can attract interest charges and replaces it with cash reserve and asset holding that the cardholder replenishes as he/she makes repayments into his/her card. 1. Introduction Credit card, which is one of the noncash payment methods, has been growing exponentially.
    [Show full text]
  • View Currency List
    Currency List business.westernunion.com.au CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING Africa Asia continued Middle East Algerian Dinar – DZD Laos Kip – LAK Bahrain Dinar – BHD Angola Kwanza – AOA Macau Pataca – MOP Israeli Shekel – ILS Botswana Pula – BWP Malaysian Ringgit – MYR Jordanian Dinar – JOD Burundi Franc – BIF Maldives Rufiyaa – MVR Kuwaiti Dinar – KWD Cape Verde Escudo – CVE Nepal Rupee – NPR Lebanese Pound – LBP Central African States – XOF Pakistan Rupee – PKR Omani Rial – OMR Central African States – XAF Philippine Peso – PHP Qatari Rial – QAR Comoros Franc – KMF Singapore Dollar – SGD Saudi Arabian Riyal – SAR Djibouti Franc – DJF Sri Lanka Rupee – LKR Turkish Lira – TRY Egyptian Pound – EGP Taiwanese Dollar – TWD UAE Dirham – AED Eritrea Nakfa – ERN Thai Baht – THB Yemeni Rial – YER Ethiopia Birr – ETB Uzbekistan Sum – UZS North America Gambian Dalasi – GMD Vietnamese Dong – VND Canadian Dollar – CAD Ghanian Cedi – GHS Oceania Mexican Peso – MXN Guinea Republic Franc – GNF Australian Dollar – AUD United States Dollar – USD Kenyan Shilling – KES Fiji Dollar – FJD South and Central America, The Caribbean Lesotho Malati – LSL New Zealand Dollar – NZD Argentine Peso – ARS Madagascar Ariary – MGA Papua New Guinea Kina – PGK Bahamian Dollar – BSD Malawi Kwacha – MWK Samoan Tala – WST Barbados Dollar – BBD Mauritanian Ouguiya – MRO Solomon Islands Dollar –
    [Show full text]
  • Must Money Be Limited to Only Gold and Silver?: a Survey of Fiqhi Opinions and Some Implications(1)
    JKAU: Islamic Econ., Vol. 19, No. 1, pp: 21-34 (2006 A.D/1427 A.H) Must Money Be Limited to Only Gold and Silver?: A Survey of Fiqhi Opinions and Some Implications(1) MUHAMMAD ASLAM HANEEF and EMAD RAFIQ BARAKAT Associate Professor, Department of Economics International Islamic University Malaysia, and Assistant Professor Department of Islamic Economics and Banking Yarmouk University, Jordan ABSTRACT. This paper attempts to provide a survey into the issue of money in Islam. Specifically, it looks at the views of Muslim scholars (primarily past fiqh scholars), on whether money has to be limited to gold and silver or not and discusses some implications of the findings of this brief survey on present day opinions. In this connection it discusses some general points on gold and silver as money, from a historical and ‘contextual’ perspective, followed by some points that are agreed upon by the majority of scholars. It also compares the views of scholars who take the position that only gold and silver can be used as money and the evidences given to support their stand with the views of those who do not limit money to only gold and silver, together with their evidences. 1. Introduction The discussion of money is certainly as old as the economics discipline itself. Early definitions of the discipline were even focused on money/wealth while most measurements today in economics are based on some money value. In the years since the 1997/98 financial crisis, there has been a renewed interest in and perception popularised by some that the Islamic currency as sanctioned in the shari’ah is gold and silver.(2) The crisis created renewed interest in the discussions and debates on money, the monetary system and even calls for a new international financial architecture.
    [Show full text]
  • The Place of the Young Turk Revolution in Turkish History
    THE PLACE OF THE YOUNG TURK REVOLUTION IN TURKISH HISTORY. Prof. Dr. sı.. AKŞİN •• i. Introduciioa J'be Turu in History: The Turks of Turkeyarepan of the Tuılcic.pcoples who. back in history. were once concentrated in Central Asia. Central Asia can be roughly described as the region to the north and the north-west nf the China Wall. The China Wall was built to koopthe namadie peoples -ineloding the Tuikic peoples- out of China. The Wall also roughly corresponded to the frontler of feıtile iand wbere agriculture could be practised. In Centtal Asia the tand was generally not suitable for qriculıure. but could sustain the animal hents of the nomads. The fmt "state" of the Turlcicpeoples was the Empiıe of the Hmıs. for which the apprOximate dates 220 BC-216 AD are given. But whether or not this formatian can be considered a state or empire in the proper sense of the word is not clear. because the Hmıs did not use the written word. Probably this fonnatian was a coofederation of tribes. raiher' than a state. The same can probobly he said for the Göktürks (552-745). though at the end of their primacy they hegan to use writing. The third important poIitical formation of the Turkic peoples was the Uygur State (745-940). By the end of the 8th century. two important developments took place among the Turkic peoples. 1) A great number of them hegan to move west, Lo Transoxania and contiguous regions and 2) they began to . adopt Islam. It seems that the proces of Islamization was a rather loog.
    [Show full text]
  • The Ottoman Policy Towards Non-Muslim Communities and Their Status in the Ottoman Empire During the 15Th & 16Th Centuries: Interaction of Civilizations Mughul, M
    2137 THE OTTOMAN POLICY TOWARDS NON-MUSLIM COMMUNITIES AND THEIR STATUS IN THE OTTOMAN EMPIRE DURING THE 15TH & 16TH CENTURIES: INTERACTION OF CIVILIZATIONS MUGHUL, M. Yakub* PAKİSTAN/PAKISTAN/ПАКИСТАН ABSTRACT This paper focuses on Ottomans liberal policy and tolerance towards the non- Muslims and other religious communities during 15th, 16th century. In particular, it explores the key role of Sultan Mohammad-II in consolidating and harmonizing different cultures and religions across Europe and Asia. The paper also addresses the Islamic attitude towards inter-religious relations, which was at that time quite unknown in rest of Europe, where they were burning its heretics at the stake, whereas races and religions coexisted under the Ottoman rule. It will highlight how the advent of Ottoman Rule in Eastern Europe brought the Muslim and European Civilizations face to face, which ultimately created an interaction among them. Finally, it will describe the image of the millet system introduced during this period, which brought all non-Muslim communities within the Turkish commonwealth, and allowed them to govern itself by its own laws and live in peace in the Ottoman Empire. Key Words: Ottoman, policy, Empire, Constantinople, Turkish, history. INTRODUCTION The Ottoman Empire1 would be defined as a mosaic of different cultures and religions, which provided peace and harmony among members of society without distinction between Muslim and non-Muslim, race, and color. The story of Ottoman history involves not only the Ottoman dynasty but the many peoples who ruled the Empire and were ruled by it: Turks, Arabs, Serbs, Greeks, Armenians, Jews, Bulgarians, Hungarians, Albanians, North Africans and others.
    [Show full text]
  • Religious Pluralism and Religion-State Relations in Turkey
    religions Article Religious Pluralism and Religion-State Relations in Turkey H. ¸SuleAlbayrak Department of Sociology of Religion, Faculty of Theology, Marmara University, Mahir Iz˙ Cad. No. 2, Üsküdar, Istanbul 34662, Turkey; [email protected] or [email protected] Received: 7 November 2018; Accepted: 16 January 2019; Published: 18 January 2019 Abstract: In this article, I examine religion-state relations and religious pluralism in Turkey in terms of recent changes in the religious landscape. I propose that there is a growing trend in the religious sphere that has resulted in a proliferation of religions, sects and spiritual approaches in Turkey. I argue that although the religious market model might not be applicable to the Turkish religious sphere during the republican era until the 2000s due to the restrictions applied by the state’s authoritarian secularist policies, it is compatible with today’s changing society. Different religious groups as well as spiritual movements have used the democratization process of the 2000s in Turkey as an opportunity to proselytize various faiths and understandings of Islam, with both traditional and modernist forms. In this period, new religious movements have also appeared. Thus, the Turkish religious landscape has recently become much more complicated than it was two decades earlier. I plan for this descriptive work firstly to provide an insight into the history of religious pluralism and state policies in Turkey. Secondly, I will discuss the religious policies of the republican period and, thirdly, I will evaluate recent developments such as the increasing number of approaches in the religious sphere within the scope of the religious market model.
    [Show full text]
  • Qard Hasan, Credit Cards and Islamic Financial Product Structuring: Some Qur'anic and Practical Considerations
    Journal of Islamic Financial Studies ISSN (2469-259X) J. Islam. Fin. Stud. 1, No.1 (Dec-2015) Qard Hasan, Credit Cards and Islamic Financial Product Structuring: Some Qur’anic and Practical Considerations Mohammad Omar Farooq1 and Nedal El Ghattis2 1University of Bahrain, Department of Economics and Finance, Kingdom of Bahrain 2Bahrain Polytechnic, Faculty of Business, Kingdom of Bahrain Received 04 Oct. 2015, Accepted 19 Nov. 2015, Published 1 Dec. 2015 Abstract: For all practical purpose, qard and qard hasan are generally regarded synonymous from orthodox Islamic viewpoint, because, due to the categorical prohibition of riba in the Qur’an, qard (loan) is considered ribawi (subject to the rules pertaining to riba prohibition), and therefore only gratuitous monetary loans – without any benefit to the lender - are considered permissible. The concept of qard hasan has gained new relevance and importance as it is being used to structure Islamic financial products, such as demand deposit products in banks and credit cards. Using qard hasan as the basis for such products leads to some serious anomalies. But more importantly, is the traditional understanding of qard hasan consistent with the Qur’an as well as hadith? What scriptural evidences are there to support the traditional understanding? Also, in light of the impact of credit cards on personal financial health, is the concept ofqard hasan at all compatible with credit cards, and thus, structuring Islamic credit cards? In this paper, we focus on how the Qur’an illuminates this concept of qard hasan and also how it is treated in hadith. While evidence from hadith is looked at, the primary purpose of this paper is to examine the Qur’anic approach to this concept and practical implications for Islamic product structuring.
    [Show full text]
  • Countries Codes and Currencies 2020.Xlsx
    World Bank Country Code Country Name WHO Region Currency Name Currency Code Income Group (2018) AFG Afghanistan EMR Low Afghanistan Afghani AFN ALB Albania EUR Upper‐middle Albanian Lek ALL DZA Algeria AFR Upper‐middle Algerian Dinar DZD AND Andorra EUR High Euro EUR AGO Angola AFR Lower‐middle Angolan Kwanza AON ATG Antigua and Barbuda AMR High Eastern Caribbean Dollar XCD ARG Argentina AMR Upper‐middle Argentine Peso ARS ARM Armenia EUR Upper‐middle Dram AMD AUS Australia WPR High Australian Dollar AUD AUT Austria EUR High Euro EUR AZE Azerbaijan EUR Upper‐middle Manat AZN BHS Bahamas AMR High Bahamian Dollar BSD BHR Bahrain EMR High Baharaini Dinar BHD BGD Bangladesh SEAR Lower‐middle Taka BDT BRB Barbados AMR High Barbados Dollar BBD BLR Belarus EUR Upper‐middle Belarusian Ruble BYN BEL Belgium EUR High Euro EUR BLZ Belize AMR Upper‐middle Belize Dollar BZD BEN Benin AFR Low CFA Franc XOF BTN Bhutan SEAR Lower‐middle Ngultrum BTN BOL Bolivia Plurinational States of AMR Lower‐middle Boliviano BOB BIH Bosnia and Herzegovina EUR Upper‐middle Convertible Mark BAM BWA Botswana AFR Upper‐middle Botswana Pula BWP BRA Brazil AMR Upper‐middle Brazilian Real BRL BRN Brunei Darussalam WPR High Brunei Dollar BND BGR Bulgaria EUR Upper‐middle Bulgarian Lev BGL BFA Burkina Faso AFR Low CFA Franc XOF BDI Burundi AFR Low Burundi Franc BIF CPV Cabo Verde Republic of AFR Lower‐middle Cape Verde Escudo CVE KHM Cambodia WPR Lower‐middle Riel KHR CMR Cameroon AFR Lower‐middle CFA Franc XAF CAN Canada AMR High Canadian Dollar CAD CAF Central African Republic
    [Show full text]