Can a New Identity for Current Ar-Rahnu Last Long?

TODAY, many folks approach ar-rahnu service providers to meet their routine basic needs for the buying of foodstuffs, schooling expenses for the paying of schooling fees, clothes and stationaries and personal statuses like marriage and house construction.

One may perceive that the majority of rich folks saved their wealth not through the buying of the jewellery but instead through their participation in takaful and the buying of properties – The latter is not subject to the zakat payment. One who holds three terrace houses with a market value of RM1.2 million is not required to pay zakat unless otherwise if they are rented out. Likewise, a businessman who had two BMW Cars (market value RM1.2 million) is not entitled for paying zakat unless otherwise if they are &l...