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Establishing zakat on oil and gas in Malaysia: a new insight
ISRA International Journal of Islamic Finance Pub Date : 2021-08-04 , DOI: 10.1108/ijif-04-2020-0089
Pg Mohd Faezul Fikri Ag Omar 1 , Haneffa Muchlis Gazali 1 , Mohd. Nasir Samsulbahri 1 , Nurul Izzati Abd Razak 1 , Norhamiza Ishak 1
Affiliation  

Purpose

The purpose of this paper is to deliberate on the establishment of zakat (Islamic alms) on oil and gas in Malaysia. Being one of the five Islamic pillars, zakat contributes significantly to the country’s socio-economic development and prosperity. However, in Malaysia and other Islamic countries, there is not yet a proper mechanism for calculating zakat on extracted minerals. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, are subject to zakat payment. In Malaysia, however, this is not the case.

Design/methodology/approach

This study uses a qualitative method. It presents a thorough review on the stipulation for paying zakat on minerals, specifically oil and gas. The deliberation is based on secondary data entailing a comprehensive content analysis of prominent books on the subject, current zakat rulings and legal acts on oil and gas.

Findings

Oil and gas are subject to zakat payment, as indicated in several Qurʾānic verses and based on the academic reasoning of Muslim scholars. The zakat calculation for oil and gas entails the nisāb (minimum threshold value of the assets) but not the ḥawl (the requirement for one full Islamic year of ownership for the assets), by analogy with zakat on agricultural produce. Despite the obligation to pay zakat on minerals under the zakāt al-māl (alms due on wealth) category, oil and gas is yet to be fully subject to this practice in Malaysia, although the country is known as an oil-producing Muslim country. Several legislative acts covering the managerial and business side of oil and gas operations have long been established, but the provision on zakat remains unclear. Hence, comprehensive legislation is needed to fine-tune the Malaysian oil and gas system, particularly with regard to zakat.

Research limitations/implications

This study relies mainly on secondary data and literature without performing any empirical investigations.

Practical implications

In terms of academic implication, this study enriches the existing body of knowledge on zakat. Practical implications would include enhanced decision-making concerning zakat on oil and gas on the part of zakat institutions, policymakers and the government of Malaysia.

Originality/value

This study provides practical and academic contributions to the deep understanding of zakat on oil and gas, which has received very little attention in the existing body of literature. Despite being limited in literature, this is a breakthrough study that sheds light on zakat on oil and gas.



中文翻译:

在马来西亚建立关于石油和天然气的天课:一个新的见解

目的

本文的目的是讨论在马来西亚建立石油和天然气的 zakat(伊斯兰施舍)。作为伊斯兰教的五个支柱之一,天课为该国的社会经济发展和繁荣做出了重大贡献。然而,在马来西亚和其他伊斯兰国家,还没有一个适当的机制来计算提取矿物的天课。与黄金和白银类似,石油和天然气是有价值的矿物,在开采时需要缴纳天课。然而,在马来西亚,情况并非如此。

设计/方法/方法

本研究采用定性方法。它对为矿物,特别是石油和天然气支付天课的规定进行了彻底审查。审议基于二手数据,需要对有关该主题的著名书籍、当前的天课裁决和石油和天然气的法律行为进行全面的内容分析。

发现

石油和天然气需要缴纳天课,如古兰经的几节经文所示,并基于穆斯林学者的学术推理。石油和天然气的zakat计算需要nisāb(资产的最低阈值)而不是ḥawl(资产拥有完整的伊斯兰年的要求),类似于农产品的zakat。尽管根据zakāt al-māl有义务为矿物支付zakat(施舍财富)类别,石油和天然气在马来西亚尚未完全受制于这种做法,尽管该国被称为产油穆斯林国家。一些涵盖石油和天然气运营管理和业务方面的立法法案早已制定,但关于天课的规定仍不清楚。因此,需要全面的立法来微调马来西亚的石油和天然气系统,特别是在天课方面。

研究限制/影响

本研究主要依靠二手资料和文献,没有进行任何实证调查。

实际影响

就学术意义而言,本研究丰富了有关天课的现有知识体系。实际影响将包括加强天课机构、政策制定者和马来西亚政府有关石油和天然气的天课的决策。

原创性/价值

这项研究为深入了解石油和天然气的天课提供了实际和学术贡献,这在现有文献中很少受到关注。尽管文献有限,但这是一项突破性的研究,揭示了石油和天然气的天课。

更新日期:2021-08-04
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