Recitation 347.9

أعوذ بالله من الشيطان الرجيم 
بسم الله الرحمن الرحيم
ألسلام عليكم ورحمة الله وبركاته
Dear Quran Lovers,
Let us continue to look into the Standard Zakah:
 (ii) Zakah For Trade:
Almost all Ulama Fiqh said that it is wajib/obligatory on a trader/ businessman to pay Zakah on his stock/things for sale, (from Samuroh ibnu Jundub (narrated by Abu Daud and Baihaqi).
Its conditions are the same as that of Zakah for Gold, silver and Cash money. That is: (i)Islam, (ii) a freeman, (iii) the possession of stock is without fault, (iv) attained its Nishob/minimal amount/value, that is 20 Dinar = 85 gramme, and (v) attained one year in the trade/business.
The Rate of Zakah to be paid is 2.5% (be divided by 40).
 (iii) Zakah For The Creditors: Its conditions are as the Zakah for Gold and silver.
(iv) Zakah For Bank Obligations and Promissory Notes: as that of the Gold and silver.
(v) Zakah For Ornaments: The Ulama were/are in agreement that diamonds, precious stones, pearls, corals, and so forth are not Zakat payable, except that they became things for sale.
But ornaments or adornment of gold and silver, the Ulama had different of opinions. (a) Abu Hanifah and Ibnu Hazm were of the opinion that it is Wajib to Zakah, and they based on several Hadith including from Aisyah r.a. narrated by Abu Daud, Daruqutni and Baihaqi). While the other Three Ulama were/are of the opinion that it is not Wajib to Zakah.
(vi) Zakah For Rent: It conditions are as that of the gold and silver.
(vii) Zakah For Crops and Fruits: (to be continued).
Until we meet again in the next session, see you all Quran Lovers later.
والسلام عليكم ورحمة الله وبركاته
Abdul Hamid Mohd Yusof.