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Distribution of Estate in Islam PDF Print E-mail
Published by Abdul Ghani   
Tuesday, 08 May 2012 16:41

 


Dr. Lili Yulyadi Arnakim

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Distribution of the wealth after the demise of its owner is frequently disputable. It sometimes splits the relationship between the relatives. Thus God as the creator of human being has revealed the guidance especially for Muslim to distribute the deceased's wealth. In Islam it is called faraid, the Islamic law of distribution of estate. Indeed it plays an important role in Islamic financial planning so that it eliminates the trade off among the heirs. In fact, many financial planners face this problem. They realize that this dispute may not be solved except by the divine law, which has been prescribed to human beings, especially Muslims on this earth.

Islam depicts the comprehensive way of life in which distribution of estate is regarded significantly as God says clearly in the Qur'an "God (thus) direct you as regards your children's (inheritance): to the male, a portion equal to that of two female; if only daughters, two or more, their share is two third of the inheritance; if only one her share is a half. For parents, a sixth share of the inheritance to each, if the deceased left children: if no children, and the parents are the only heirs, the mother has a third; if the deceased left brothers (or sisters) the mother has sixth (The distribution in all cases is) after the payment of legacies and debts. Ye know not whether your parents or your children are nearest to you in benefit. These settled portions ordained by God; and God is all knowing, all-wise" (4:11).

 

 
Zakat: Cleansing Your Asset PDF Print E-mail
Published by Abdul Ghani   
Tuesday, 08 May 2012 16:38

 

 

Dr. Lili Yulyadi Arnakim

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Cleansing one's assets is not yet known in the conventional financial planning. For the conventional concerns more with wealth creation, wealth accumulation, wealth protection, and wealth distribution. Wealth purification or cleansing assets is very fundamental concept in Islamic financial planning. In Islam, in fact, it has been acquired in various forms and occasion. Qur'an as primary source of Islamic way of life (shari'ah) states "Of their goods, take alms, that so thou mightiest purify and sanctify them; and pray on their behalf. Verily thy prayers are a source of security for them; and God is One Who Heareth and knoweth" (Qur'an 9:103).

First and foremost, the assets purification is through alms giving. In Arabic, it is called as Zakat or Sadaqa. Zakat is masdar -the third form of zakaya - which means clean or purify. It purifies our wealth from the evil of this world and protects our soul from miserliness, selfishness and greed. It also cleans poverty in the society. Zakat also means growth. Thus who pays zakat, his wealth will grow. As Allah says "The parable of those who spend their substances in the way of God is that of grain of corn: it groweth seven ears, and each ear hath a hundred grains. God giveth manifold increase to whom He pleaseth: and God careth for all and He knoweth all things" (Qur'an 2:261).

 
THE BASIC STRUCTURE OF METAPHYSICAL THINKING IN ISLAM: PART-2 PDF Print E-mail
Published by tislam   
Wednesday, 02 May 2012 11:11

Toshiko Izutsu

The word " separation " (farq) primarily refers to the common-sense view of reality. Before we subjectively attain to the stage of f ana'  we naturally tend to separate the Absolute from the phenomenal world. The phenomenal world is the realm of relativity, a world where nothing is absolute, where all things are observed to be impermanent , transient , and constantly  changing. This is the kind of observation which plays an exceedingly important role in  Buddhism as the principle of universal impermanence. The world of multiplicity, be it remarked, is a realm where our senses and reason fulfil their normal functions.

 
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