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Faraz Adam Profile picture
Faraz Adam
@farazadam2
Chief Exec @amanahadvisors | Islamic Finance Practitioner | PhD, Artificial Intelligence | Interests: Fiqh & Economics | Islamic Studies, Iftaa, MA, CSAA, ACCA
Apr 13, 2021 β€’ 19 tweets β€’ 3 min read
π™π€πŠπ€π“ 𝟏𝟎𝟏

This thread simplifies the rules of Zakat and is a quick reference for anyone needing a refresher. WHO MUST PAY ZAKAT?

1. Muslim
2. Adolescence - only in the Hanafi school.
3. Mental Capacity - only in the Hanafi School

Other Madhabs apply on the wealth of child and those who lack mental capacity too.
Feb 9, 2021 β€’ 6 tweets β€’ 1 min read
𝟲 π—”π——π——π—œπ—§π—œπ—’π—‘π—”π—Ÿ π—ͺ𝗔𝗬𝗦 𝗧𝗒 π—œπ—‘π—–π—₯π—˜π—”π—¦π—˜ 𝗬𝗒𝗨π—₯ π—œπ—‘π—–π—’π— π—˜ 𝗙π—₯𝗒𝗠 𝗔𝗑 π—œπ—¦π—Ÿπ—”π— π—œπ—– π—£π—˜π—₯π—¦π—£π—˜π—–π—§π—œπ—©π—˜

In addition to business, launching a start-up, a job or side hussle & investing, God will grant us more in quantity & quality by the following acts 1. Trust in God

"If you would trust in God as He truly should be trusted, He would surely provide for you as He provides for the birds." [Tirmidhi]
Feb 7, 2021 β€’ 6 tweets β€’ 1 min read
𝗦𝗨𝗑𝗗𝗔𝗬 π—₯π—˜π—”π——: 𝗣𝗒π—₯π—§π—™π—’π—Ÿπ—œπ—’π—¦ 𝗒𝗙 π—§π—›π—˜ 𝗣𝗒𝗒π—₯

This book discusses the creative financial strategies that the world’s poorest people use to get by. Image Extreme poverty does not turn people into charity cases, unable to help themselves. In fact, those who live in poverty are incredibly smart financially, have many complex networks for raising capital and making investments.
Jun 18, 2020 β€’ 26 tweets β€’ 2 min read
HALAL INVESTING 101

THREAD 1. STOCKS & SHARES

Potentially Shariah-compliant

Requires two types of screening:
1. business activity screening to ensure the business is halal 2. financial screening to ensure that interest borrowing and savings are minimal (<30%) and that any impure income is less than 5%.
Jun 2, 2020 β€’ 8 tweets β€’ 2 min read
INVESTING VS GAMBLING: What is the difference from an Islamic perspective?

THREAD

In the context of risks, trading and gambling are both regarded as speculative risks. In both trading and gambling, one can profit or lose. However, there are key differences between them. 1) Gambling is staking of wealth by two or more parties where the winner wins all & the loser loses all. In other words, gambling is winning at the expense of another’s loss. Whereas in investing, counter-parties & shareholders (ordinary shares) collectively gain or lose.
May 21, 2020 β€’ 4 tweets β€’ 1 min read
RETURNS ON CHARITY INVESTMENTS

Charity in Islam is not a donation; it is an investment! When giving in charity, you are sacrificing immediate consumption for returns from God in this life and the next! But what are the different asset classes and their rewards? 1. Mosque in world = house in paradise [Bukhari]

2. Feeding the poor = reward of fasting day & praying the nights [Bukhari]

3. Orphan care = companionship of the Prophet in Paradise [Bukhari]

4. Supporting widows = reward of striving in path of God [Muslim]