Real estate and business fixed assets in the early Islamic economy from a Zakah perspective

IF 2.8 3区经济学 Q2 BUSINESS, FINANCE

International Journal of Islamic and Middle Eastern Finance and Management Pub Date : 2024-03-13 DOI:10.1108/imefm-06-2023-0204

Zaid Al-Aifari, Mehmet Bulut, Monzer Kahf

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引用次数: 0

Abstract

Purpose

The face value of nonowner-occupied real estate and business fixed assets is excluded from Zakah, according to most Fiqh scholars who argue that it has not been explicitly ordered during the lifetime of Prophet Muhammad (sas). This study aims to test the hypothesis that the role of these properties in the early Islamic economy was insignificant and, therefore, differed from today.

Design/methodology/approach

A qualitative historical analysis of primary Islamic sources and narrations from early Muslim historiography has been conducted to understand real estate sales and rent, construction costs and the number and size of houses owned by the Sahabah. In addition, inheritance reports and land gift records have been examined to obtain relevant information about the value of real estate. As for business fixed assets, the type, number and wealth of craftspeople as well as their tools have been analyzed to reveal their significance in comparison with today.

Findings

The findings of this study confirm the hypothesis that real estate for investment purposes and business fixed assets were quasi-non-existent during the lifetime of the Prophet (sas) and, therefore, irrelevant from a Zakah perspective.

Originality/value

This study intends to be a catalyst for the reconsideration of Zakah on these items of wealth and contributes to the Fiqhi discourse.

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从天课的角度看早期伊斯兰经济中的房地产和商业固定资产

目的根据大多数伊斯兰教律学者的观点，非自用不动产和商业固定资产的面值不包括在天课中，他们认为先知穆罕默德（圣人）在世时并未明令规定。本研究旨在验证这样一个假设，即这些财产在早期伊斯兰经济中的作用微乎其微，因此与今天的情况不同。设计/方法/途径对伊斯兰原始资料和早期穆斯林史学中的叙述进行了定性历史分析，以了解房地产销售和租金、建筑成本以及萨哈巴所拥有房屋的数量和规模。此外，还研究了继承报告和土地赠与记录，以获取有关房地产价值的相关信息。至于商业固定资产，我们分析了手工业者及其工具的类型、数量和财富，以揭示其与今天相比的重要性。研究结果本研究的结果证实了这样的假设，即用于投资目的的房地产和商业固定资产在先知（圣人）在世时几乎不存在，因此，从天课的角度来看是无关紧要的。

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来源期刊

International Journal of Islamic and Middle Eastern Finance and Management Multiple-

CiteScore

5.40

自引率

10.00%

发文量

期刊介绍： The International Journal of Islamic and Middle Eastern Finance and Management (IMEFM) publishes quality and in-depth analysis on current issues within Islamic and Middle Eastern finance and management. The journal welcomes strong evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The title is also keen to consider work from emerging authors. IMEFM has just also accepted into Clarivate''s SSCI in 2018, and its IF will be available in summer 2019, with citations dating from 2016. The coverage includes but is not limited to: -Islamic finance: Fundamentals, trends and opportunities in Islamic Finance, Islamic banking and financial markets, Risk management, Corporate finance, Investment strategy, Islamic social finance, Financial planning, Housing finance, Legal and regulatory issues, -Islamic management: Corporate governance, Customer relationship management and service quality, Business ethics and corporate social responsibility, Management styles and strategies in Shariah environments, Labour and welfare economics, Political economy. The journal is the only title aiming to give an interdisciplinary and holistic view on Islamic finance and business management practices in order to inform these two intertwined communities.