- Islamic Economics
Corporate Zakat According to AAOIFI
Zakat is one of the five pillars of Islam, mandatory for Muslims who are financially able. Not only individuals, but companies are also obliged to pay zakat if certain conditions are met. AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) has established standards for calculating and paying corporate zakat. This article will explain how corporate zakat is calculated according…
Read More » - Muslim Lifestyle
The Benefits of Morning and Evening Dhikr in Islam
Morning and evening dhikr is one of the recommended acts of worship in Islam. Dhikr means remembering Allah through certain phrases taught by the Prophet Muhammad. With dhikr, a Muslim can feel the presence of Allah in every aspect of his life. The following are some of the benefits of morning and evening dhikr based on the Quran and Hadith. …
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Deferred Payment Gold Sales According to DSN-MUI and AAOIFI Rulings
Gold trading has been a subject of debate among Islamic scholars due to its association with strict Shariah principles on riba (usury) and gharar (uncertainty). In this context, the National Sharia Council of the Indonesian Ulama Council (DSN-MUI) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) have issued guidelines and fatwas on non-cash gold trading. In this…
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How Tabdzir Can Hinder Investment
Tabdzir, or wastefulness, is one behaviour that is often overlooked in our daily lives. Tabdzir refers not only to material waste but also to time, energy, and other resources. In an economic and financial context, tabdzir can have serious consequences that hinder investment growth, both at the individual and national levels. This article will discuss how tabdzir can hinder investment…
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How to Discipline Yourself to Consistently Invest
Investing is one of the most effective ways to achieve long-term financial goals, such as buying a house, preparing for your children’s education, or planning for retirement. However, many people struggle to consistently invest due to various reasons, ranging from a lack of knowledge to the temptation to use investment funds for other purposes. Disciplining yourself to regularly invest requires…
Read More » - Islamic Economics
Profit Sharing System Based on DSN MUI: Accrual Basis and Cash Basis
In recent decades, Islamic financial institutions have grown rapidly in Indonesia. This financial system offers solutions that align with Islamic Sharia principles, one of which is the profit-sharing system. DSN MUI Fatwa No. 14 of 2000 provides guidelines on the profit distribution system, including the division of profits based on accrual basis and cash basis. Definitions of Accrual Basis and…
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Faith, Knowledge, and Deeds: The Three Foundations of Act in Islam
Faith, knowledge, and deeds are three fundamental aspects of actions in Islam. These elements form a complementary foundation that guides a Muslim’s life. Faith is the belief that underpins all actions, knowledge illuminates the path of life, and deeds are the tangible actions reflecting one’s faith and knowledge. By understanding and practicing these three elements, a Muslim can achieve a…
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Profits Distribution in Mudharabah & Musyarakah: Permissible with High Cash Reserves?
In the business world, especially in Islamic partnership schemes like mudharabah and musyarakah, profit distribution is a crucial aspect to consider. The question is, is it permissible to distribute profits if the company has high cash reserves but is experiencing losses? This article will discuss the important aspects of this question, from understanding mudharabah and musyarakah to the implications of…
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The Story of Abu Bakr Radhiyallahu Anhu’s Generosity in Giving Away All His Possessions
Abu Bakr (radhiyallahu anhu) was the most honoured and respected companion of the Prophet Muhammad ﷺ in the history of Islam. He was known not only for his strong faith, but also for his extraordinary generosity. One of the most inspiring stories from his life is when he gave away all his wealth in the cause of Allah ﷻ. This…
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Upgrade Skills as a Sign of a Good Muslim Professional
In an increasingly competitive work environment, upgrading skills is one of the keys to achieving success. For a Muslim professional, this is not just about earning a livelihood but also about fulfilling responsibilities as a trustworthy and competent individual. Islam encourages its followers to continually learn and develop themselves, so they can make the best contribution in every aspect of…
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