Islamic Finance Questions and Answers

(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants Fourth Series ZAKAT Zakat On Tradable Goods. – Is zakat due on anything purchased with the intention of reselling? Zakat is due on anything purchased with the intention of reselling the item (e.g. business inventory, real… Read More Islamic Finance Questions and Answers

Islamic Finance Questions and Answers

(May Allah bestow on Ethica Institute more wisdom and knowledge) By AMANODING D. ESMAIL, CPA, MPAPresident, Philippine Association of Islamic Accountants Third Series ZAKAT Zakatable Property And Zakat Rates. – What property is zakatable and what are the zakat rates? One must pay zakat annually on the following items held for at least one lunar year: Gold… Read More Islamic Finance Questions and Answers

Eid’l Adha, A Feast of Sacrifice, A Test of Faith amid the Covid-19

Special Report: PILGRIMS ON THE DAY OF ARAFAT By JULMUNIR I. JANNARALManaging Editor About 1.6 billion Muslims around the world will mark on Friday, July 31, the Eid’l Adha or the Feast of Sacrifice which is one of the two major Muslim annual festivals, after the new moon was not sighted on Tuesday, July 21,… Read More Eid’l Adha, A Feast of Sacrifice, A Test of Faith amid the Covid-19

No Filipino can perform hajj this year – NCMF

By JULMUNIR I. JANNARAL | Bureau Chief, Metro Manila News Bureau GOLDEN MOSQUE, Quiapo, Manila: “Definitely, there will be no Filipinos who can leave for Saudi Arabia to perform their pilgrimage in Makkah for this year Hajj in conformity with the COVID-19 health protocol of social distancing,” according to the Bureau of Pilgrimage and Endowment… Read More No Filipino can perform hajj this year – NCMF