Zakat Practical Guide

Traditionally, gold and silver were considered stores of value. With the passage of time, new forms of wealth have emerged ranging from land and building to shares, bonds, fixed deposits, currencies, annuities, insurance policies, wallets, MF, PF, et al, with ownership in sole proprietorship concerns, partnership firms, private companies, public companies, trusts, and societies. This requires expertise in finance and accounting while applying principles of zakat for determining zakat liability accurately. The book "Zakat Practical Guide" is an exercise in calculating zakat liability on all types of wealth. Besides the basic concepts, the book contains a number of case studies for the calculation of the zakat of salaried persons, manufacturers, businessmen, professionals, investors, and agriculturists. Truly it is a practical guide.

The author, Mr. Kazi Mohammed Riyazuddin, is a practicing Cost Accountant, Arbitrator and Registered Valuer (Securities/Financial Assets). He has a keen interest in the zakat system for bringing about a positive transformation in society. He pursued a six-month course "Certificate in Zakat Management" from the International Institute of Islamic Business and Finance (IIIBF), Malaysia and successfully completed it. He shouldered the responsibilities of Project Head of IndiaZakat.com for rolling out the zakat crowdfunding platform, the first of its kind in India. He drafted zakat guidelines for businessmen, salaried class persons, and investors, held several webinars, and successfully handled Question & Answer sessions. He applied accounting principles to the calculation of zakat on different classes of assets.