Muslim Lifestyle
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Can Sukuk Become a Crypto?
Sukuk, often referred to as Islamic bonds, are financial instruments that comply with Sharia principles. On the other hand, crypto refers to digital currencies operating on decentralised blockchain technology. This article explores whether sukuk can be integrated with cryptographic technology to create a new financial instrument. Definition and Characteristics of Sukuk Sukuk are securities representing ownership in an asset or…
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Understanding Corporate Zakat: Insights from the MUI Fatwa Commission
Zakat is one of the five pillars of Islam and has an important role in wealth distribution and poverty alleviation. At the Ijtima of the VII MUI Fatwa Commission in 2021, one of the main discussions was about the obligation of zakat on corporate wealth. This article will review the concept of corporate zakat according to the results of the…
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The Balance Between Increasing Charity and Safeguarding Personal Wealth
Charity is one of the most highly recommended acts of worship in Islam. Many arguments state that charity will not make a person poor but will even increase wealth. However, on the other hand, Islam also teaches a balance between giving alms and protecting personal wealth. This article will discuss the importance of this balance, based on insights from the…
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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…
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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…
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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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