Btw I put some references but if you scroll all the way down it shows the websites dunno why it deletes it from the text itself and makes it blank.
Discussion
Thank you brother! Does Islam require you to give 10% of your salary to the church or congregation like Christianity does?
No, not at all. We’re obligated to give Zakaat ( a Pillar of Islam ) there are rulings on this regarding calculation.
So 2.5% of one’s wealth that is above a certain threshold of gold / silver that one owns (or in this day and age fiat, soon Bitcoin when it takes over haha)
So this 2.5% is anything above the threshold of items you have as disposable like say I got 200k sat in my bank accounts - I’d have to pay on that, say I make 200k profit from my business I’d have to pay on that but say I have a 5mil house, I wouldn’t pay on that as I’m using it, say my business has 20m worth of property and assets, I wouldn’t pay on that as it’s in use. It’s basically anything that isn’t needed.
That’s how including crops and stuff aswell, but the ruling is to have the item for minimum of 12 months before we pay Zakaat on it. So say I just sold a flat and had 100k in my bank, sitting there, it has to go above 12 months before I’m obligated to pay Zakaat on it. Say within the 12 months I use that 100k and spend it all, I’m not obligated as I don’t have it anymore.
This Zakaat can only be given to the poor and needy, so people that can’t eat, are in severe debt etc. you can’t just give it to X person cause you felt like it. It has to go to the poor and needy. Also it can’t go to parents for example if they were poor because as a child it’s your duty to look after them and feed them and shelter them, they can eat from your wealth obviously in necessities. If my dad wanted a Lamborghini Reventon, and I am struggling to pay rent obviously I’m not obliged to give him what he wants. He doesn’t need the reventon, regardless of how psychologically reving the car will make him feel lol.
Zakaat is also only compulsory on the person that can afford it. If you don’t meet the threshold then you don’t give as you’re not financially capable to give.
But yeah no. There is no obligation of a fixed amount to give to a Masjid in other sense. However; we as Muslims should donate to charities and masjid for the better of the Muslim Nation, and for Kafirs which are poor and needy like homeless people or beggars etc.
This falls under the category of something called Sadaqah which is voluntary donations. As I said one benefit is cleansing my past sins by giving in the name of Allah.
So two main points here:
1. Zakaat is Compulsory, a pillar of Islam
2. Sadaqah is Voluntary, a good deed
Finally, Zakaat falls under two categories. Zakaat al-Maal and Zakat al-Fitr, Zakaat al-Maal is the example I gave above. Obligation on your wealth. The second one Zakaat al-Fitr again is an obligation for the one that has enough to eat and extra for a specific day - Eid al-Fitr - one of two days we celebrate in the year as Muslims, this is the festival of breaking the fast after the holy month of Ramadan ends.
Zakat al-Fitr is donated not through money, but through actual food. Foods that you would pay Zakaat on, for example, Rice, Wheat, Dates, Pasta etc. if we have enough food to eat on Eid we must also give a threshold of food to the poor so they can also eat on Eid and not be hungry on this joyous occasion. This must be given a day or two before it’s confirmed that the holy month of Ramadan has finished (1st day of the next month is Eid al-Fitr)
Anyways this is getting very technical for a someone wanting to learn more, but there’s many categories to study. The best place to start would be Aqeedah, which basically is the fundamental of Faith, and Imaan, so what does it mean to worship only one god. Islam is a monotheistic religion, as is Judaism, Christianity and Hinduism etc. And the main reason I practice Islam is, through time Islam hasn’t changed whereas the rest have been tampered with by men, and whatever is in the man’s heart. That’s not enough for me to follow something, as it has to be untouched imo or the message can be anyone’s and I won’t be following anyone if I follow someone or something in this case Allah.
I forgot to mention, Zakaat is only given once a year. You can pick the day you want to give it and just do it from that day you meet until you don’t meet the threshold again (12 months period). Or you can begin it from the day you’re obligated to give Zakaat. Also Muslims don’t follow the Georgian Calendar, we follow the Hijri Calendar which is based on the Lunar Cycle, so the Moon rather than Solar being the Sun (which is the Georgian Calendar).
How many days in an Islamic year based on the following statement? How many years have you been down the religious rabbit hole? Also… is BTC allowed in your religion because of interest? #bitcoin
Lunar calendar is roughly 11 days shorter than Solar year.
I would say properly for around 7 years, but I started to question stuff 14 years ago and slowly learn bits and bobs. Always asking questions to what’s important to me in my life to see if Islam effects it or not.
What interest in BTC? BTC is PoW not PoS, you need to get that .ETH ENS out of your mind hahah
So Interest is completely prohibited and there are difference of opinions on “Crypto” but Memecoins are haram as it’s gambling and no utility. Basically a casino.
But yeah what interest on BTC? I’m intrigued as have I been losing out or something HODLing all these years where you know a hack to accumulate more faster!
How do Islam people get around the whole interest issue?
Here in SA they buy exotic cars and they sell at a profit which is interest but apparently that’s fine..
Do you ever have guests on your podcast?
It’s prohibited meaning doing it is a major sin, that doesn’t stop people from sinning of course.
What is SA? South Africa? And buying and selling isn’t interest, interest is where I sell you X for X amount and then say you pay me back Y amount and every year dependant on how I feel I increase Y amount as it’s a variable rate. That’s unfair on the person who bought product Y for Y initial price. Obviously I’m super simplifying it - I’m out in London at the moment so I may respond late.
I am happy to have podcasts, but I haven’t had any yet, I don’t know what I’d discuss with someone else as my streams I just provide data and news, if it wasn’t Bitcoin and Web3 based I would stream on my other channel JBINZALA Philosophy as that’s more off topic and life related