Dividing Money in Islamic Jurisprudence and its Relation to Calculating Zakah

In Islamic Jurisprudence, assets are divided into:

01. Currency: which is exchanged in buying and selling. It consists of two kinds: * Free money: gold and silver. * Bound money: banknotes and coins. 02. Other assets : meant to be utilized in a certain manner. They are of two kinds: * Durable assets: which are possessed for use in different activities e.g. machines and plow animals. This is equivalent to the modern term 'fixed assets'. * Inventory: which is prepared for sale and exchange, whether manufactured or bought to be exchanged in trade. 03. Animals: camels, cows, sheep and the like. There are three kinds * Animals raised for milk and breeding. laboring animals possessed for work. * Animals raised for trade. 04. Crops and fruits: the products of the land, divided into: * Those irrigated by machines. * Those irrigated by rain, springs or taking water from the earth by their roots.

V good

Nice and it is the best way to divide money into poor people.

nyc post