al-Shamil fi Zakat al-Ashum wa Istithmar Amwal al-Zakat
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- Editions
- Maktabat Al-Rushd
al-Shamil fi Zakat al-Ashum wa Istithmar Amwal al-Zakat (The Comprehensive Guide on the Zakat of Shares and the Investment of Zakat Funds) is a contemporary treatise on Islamic financial jurisprudence by the Saudi scholar Salih bin Zabin al-Marzooqi al-Baqmi, examining the legal rulings governing zakat on joint-stock company shares and the investment of zakat revenues .
Composition and Publication
The work combines, expands, and updates three earlier research papers by the author :
- Man Tajibu 'alayhi Zakat Ashum al-Sharikat al-Musahamah (Who is Obligated to Pay Zakat on Joint-Stock Company Shares), originally published in issue 68 of Majallat al-Buhuth al-Fiqhiyyah al-Mu'asirah .
- Tahrir al-Qawl fi Zakat Ashum al-Sharikat bi-al-Nazar ila Naw' Nashatiha (Determining the Stance on the Zakat of Company Shares According to Their Business Activity), originally published in issue 117 of Majallat al-Buhuth al-Fiqhiyyah al-Mu'asirah .
- Istithmar Amwal al-Zakat fi Mashari' Dhat Ray' Ya'ud 'ala Mustahiqqiha (Investing Zakat Funds in Revenue-Yielding Projects Benefiting Its Recipients), originally published in issue 56 of Majallat al-Buhuth al-Fiqhiyyah al-Mu'asirah .
The integrated work was published by Maktabat al-Rushd .
Scope and Structure
The book addresses corporate shares as a modern financial phenomenon (nazilah fiqhiyyah) not encountered in classical Islamic jurisprudence, investigating who bears the zakat obligation, how zakat is assessed across diverse business activities (commercial, industrial, agricultural, real estate, and service companies), and whether zakat funds may be invested .
The book is organized into an introduction and three main parts (abwab):
- Part One: Who is Obligated to Pay Zakat on Joint-Stock Company Shares (Man Tajibu 'alayhi Zakat Ashum al-Sharikah al-Musahamah): Divided into five sections, it reviews contemporary scholarly disagreement across three views: whether zakat is incumbent upon individual shareholders, upon shareholders but remitted by corporate management on their behalf, or directly upon the corporation itself . Al-Marzooqi argues that the obligation primarily falls upon the company as a legal entity based on the principle of co-mingled wealth (al-khultah) in commercial assets, provided the company calculates and pays it; otherwise, the obligation falls back on the individual shareholder .
- Part Two: Determining the Ruling on Zakat for Company Shares According to Their Activity (Tahrir al-Qawl fi Zakat Ashum al-Sharikat bi-al-Nazar ila Naw' Nashatiha): Arranged into four sections, it covers the conditions for the obligation of zakat on shares, rulings on paying zakat in shares or in other wealth, and zakat on prohibited shares . It presents and evaluates five contemporary scholarly views and their evidence, followed by the author's preferred conclusions and recommendations .
- Part Three: Investing Zakat Funds in Revenue-Yielding Projects Benefiting Its Recipients (Istithmar Amwal al-Zakat fi Mashari' Dhat Ray' Ya'ud 'ala Mustahiqqiha): It examines the proposal where an authority appointed by the ruler invests part of zakat funds into commercial or industrial projects whose proceeds are distributed to the poor and needy . It details six contemporary scholarly opinions on the issue and concludes by adopting the view that investing zakat funds in revenue-generating projects is not permissible .
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