truthseeker63
Junior Member
Salam my question is I know that hoarding of wealth is haram in Islam I know hoarding is diffrent from saving wealth which is saving money for a purpose and or to spend later ? I know Islam has zakat which is obligatory charity and sadaqah which is voluntary charity my question is since zakat is 2.5% which is a low rate what happens if the zakat rate is not enough or does not get enough revenue to help all the poor and the wealthy or the rich are not giving to sadaqah or voluntary charity or there is a famine high unemployment poverty and hoarding of wealth what would or should the Islamic State do ? Can Wealth and Property Farms ever be Confiscated by the Islamic State ?
Hoarding of
wealth is prohibited
29-01-2008
Islam has made it lawful to save gold and silver, for it means the accumulation of money for a purpose. Islam has also permitted a man to save money in order to accumulate a dowry for a woman he wishes to marry, or to save money in order to go to Hajj etc. The saver would only have to pay the Zakat due on the accumulated money if it reached the Nisab and remained in his possession for a full year. When the verse was revealed prohibiting the hoarding of gold and silver, these two metals represented at the time the units of exchange and measure of the effort spent (in work) and the units of value put on goods, services and properties, whether these were minted or not; the prohibition was therefore directly linked to the fact that they represented the unit of exchange.
The hoarding of gold and silver was prohibited explicitly in the Qur’an. Allah says: “And let those who hoard gold and silver and do not spend them in the way of Allah know that a severe and painful punishment is awaiting them.” [At-Tauba: 34]
This warning of severe punishment for those who hoard gold and silver serves as a clear evidence that the Law Giver has decisively ordered us to refrain from doing so; it is therefore forbidden to hoard gold and silver(money).
http://theunjustmedia.com/Islamic Perspectives/Jan 2008/Hoarding of wealth is prohibited.htm
Hoarding of
wealth is prohibited
29-01-2008
Islam has made it lawful to save gold and silver, for it means the accumulation of money for a purpose. Islam has also permitted a man to save money in order to accumulate a dowry for a woman he wishes to marry, or to save money in order to go to Hajj etc. The saver would only have to pay the Zakat due on the accumulated money if it reached the Nisab and remained in his possession for a full year. When the verse was revealed prohibiting the hoarding of gold and silver, these two metals represented at the time the units of exchange and measure of the effort spent (in work) and the units of value put on goods, services and properties, whether these were minted or not; the prohibition was therefore directly linked to the fact that they represented the unit of exchange.
The hoarding of gold and silver was prohibited explicitly in the Qur’an. Allah says: “And let those who hoard gold and silver and do not spend them in the way of Allah know that a severe and painful punishment is awaiting them.” [At-Tauba: 34]
This warning of severe punishment for those who hoard gold and silver serves as a clear evidence that the Law Giver has decisively ordered us to refrain from doing so; it is therefore forbidden to hoard gold and silver(money).
http://theunjustmedia.com/Islamic Perspectives/Jan 2008/Hoarding of wealth is prohibited.htm
