MUHAMMAD’S TEACHINGS TO MANKIND
“ The Messenger of God, peace and blessings of God be upon him, said, "I have exempted you from almsgiving (1) on horses (2) and slaves so give alms on silver; one dirham for every 40 dirhams worth (3) of silver. No alms are due on 190 [dirhams worth of silver], but if you accumulate the equivalent of 200 dirhams, then 5 dirhams are due [as alms]. Footnotes: (1) (Zakāh) one of the five pillars of Islām: It is a calculated proportion of a Muslim's wealth that is paid annually for the benefit of the needy. It is due on certain assets, once their value reaches a certain threshold and the calculation varies according to the nature of the asset. (2) Commercial horses are business assets, and as such attract almsgiving. (3) Although only silver is mentioned, the ruling extends to money (currency, banknotes) and other wealth/assets. ”
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