full open letter to the north american fiqh council. View Article →
Dey Ex Machina
A new methodology to compute zakat is getting popular. It argues for a discount of 70% over the zakat on shares.
This year, the methodology has been adopted by the North American Fiqh Council and the Shariyah review board.
Now apps like Zoya Finance, Wahed Invest and Launchgood are all suggesting 'services' to compute zakat based on that methodology.
That methodology is not only wrong, it will harm the weakest and chop off muslim charitable contributions at a much needed time. I wrote a letter to the authors here on why the 70% discount is not only incorrect, it is against the spirit of zakat as it favors the wealthiest:
.pdf
I NEED HELP!
Please take the time to read the letter. If you agree this is wrong, I need help to reach into the authors of this methodology. If you have a blue check on twitter, or have a contact there - please contact me so I can make sure the letter reach into them.
Jazakallah ou kheyr
Hello World
Thanks @Muslim Bitcoiner for the tip