2. DEFINITION
Comes from Arabic word ‘al-ajr’ which means wages or
rewards for a perticular work done. Ijarah also means
employment of person through the payment of wages for the
work done. Al-ijarah is therefore a contract to give exclusive
possession of physical properties or to render services to a
person in return for some rental or wages for a specified
period.

3. PILLARS OF
AL-IJARAH
RENTAL / WAGES
BENEFIT /
SERVICE
TWO
CONTRACTING
PARTIES
SIGHAH

4. TWO CONTRACTING
PARTIES
There are two contracting parties namely the
owner of the leased asset or service provider
(lessor) and the party who reaps the benefits or
services of the leased asset (lessee). Parties
involved in a contract must be mature and rational.
A contract is not valid when it involves children and
persons of unsound mind.

5. SIGHAH
Sighah is the formal exchange between the
contractual parties indicating their willingness to
enter into the agreement. It consists of an offer
on the part of one contractual party and an
acceptance by the other party, either of which
must be clearly understood. Agreement and
supply must be parallel, meaning all terms in
agreement must be adhered to. There is no time
gap between supply and agreement and it is
unconditional.

6. BENEFIT/SERVIC
ES
Service must be of value. The owner or service provider must
be able to provide an asset or a service that is of benefit to
the hirer. Take for example houses that are to be leased. The
owner cannot lease a house which is in a dilapidated or poor
condition to the tenants. However, there are limitations to the
types of benefit or services that can be offered. For example,
one cannot hire another to perform hajj on one’s behalf to
achieve pilgrimage. The benefit or service provided must be
permissible, agreeable and known by both parties from all
aspects.

7. RENTAL/WAG
The payment must be free from any elements of usury and the
amount and payment period must be agreeable and known by both
parties.

8. WAQF (WAQAF)

9. DEFINITION
Waqf means ‘to stop’, ‘contain’ or ‘to preserve’.
The meaning here is to prevent the buying and
selling, gifting or inheritance of a tangible asset or
property. As such, the asset or property remains in
perpetuity until the end of time for the benefit of
Islam as a whole or for a specified group who have
been pre-determined.

10. T
Y
P
E
S
SPECIAL WAQAF
• Refer to the individual (wakif) or group who give
money or property for a specific purpose.
• Example, Amirul give money to built mosque, for
religious purposes.
GENERAL WAQAF
• Refer to an individual (wakif) or group which give
money or property for Islamic welfare purposes
without any specific objective.
• Example, Firdaus give money to buy a rock chair at
the playground near his house. So, all the people
can sit at the chair when they go to that
playground.

11. CONDITIONS
WAKIF
( founder )
MAUQUF
( beneficiaries )
PROPERTY
( object )
AKAD
(confession of waqaf)
Must a sound of mind and
mature, can handling
financial and not bankruptcy.
The founder’s family, poor,
travelers and public.
The object must be legal in
law and wakif can control it.
In writing and announced.

12. CONTRACT VOID
1. The object destroyed or missing.
2. The contract was announced void by the Islamic
association or law.
3. The founder (wakif) announced to void the contract.

13. Assets
Laibility

14. ASSETS
 Unless acquired wiht the clear intention to
resell
 For example: A person buys a house which
is normally exempt from Zakat, with the
intention of reselling the house at a profit,
then the market value of the property,
calculated as at the end of the relevant
Zakat year, will be subject to Zakat.
 Equipment of all classes, books of value,
time share unit.

15. LAIBILITY
Liabilities, for Zakat purposes, may be
divided into two categories:
 Liabilities incurred in acquiring assets
which are exempt from Zakat.
 For example, mortgage on immovable
property.
 Liabilities incurred in acquiring assets
which are subject to Zakat.
 For example, trade creditors (suppliers
of business merchandise inventory),
and bank overdraft.

16. Assets
Laibility

17. ASSETS
 Unless acquired wiht the clear intention to
resell
 For example: A person buys a house which
is normally exempt from Zakat, with the
intention of reselling the house at a profit,
then the market value of the property,
calculated as at the end of the relevant
Zakat year, will be subject to Zakat.
 Equipment of all classes, books of value,
time share unit.

18. LAIBILITY
Liabilities, for Zakat purposes, may be
divided into two categories:
 Liabilities incurred in acquiring assets
which are exempt from Zakat.
 For example, mortgage on immovable
property.
 Liabilities incurred in acquiring assets
which are subject to Zakat.
 For example, trade creditors (suppliers
of business merchandise inventory),
and bank overdraft.

19. Definition Of The Concept
Baitulmal

20.  In Arabic treasury known as the treasure house.
 It is also known as the national treasury
 A financial institution that serves to provide the
necessary public property or place of storage of
all valuables.
 It also serves as an investment property on
Muslims to establish Islamic banks active and
dedicated.

21.  Eradicate poverty
 Distributing alms to the qualified and entitled to
 Fighting crime and social ills
 Provide a variety of basic needs
 Welfare of the community that need it
 Roads, investment, social activities beneficial
 Improve the livelihood of Muslims
 Improve education
 Provide scholarships or financial aid as those that need it.
 Keep the endowed property
 The role of taking care of all the country's wealth

22. Baitulmal
 Various storage properties
Islamic countries
 2 type :
1. Special property
 Charity
 Zakat fitrah
2. General property
 Fai
 Ghaimah
 ma'adin
 Extractive
 People around the country
 hgyu
 It is only subject to the property as
zakat zakat of gold, silver,
agriculture, pertenakan, minerals,
business and income and zakat fitrah
 Mustahiq or recipients of zakat
1. amil
2. poor
3. converts
4. Riqab
5. gharimim
6. isabillah
7. ibn sabeel
Pusat Zakat

23. BAI’BITHAMAN AJIL
(BBA)

24. DEFINITION OF BBA
 Sale of goods on a deferred payment basic at a
price, which includes a profit margin agreed by
both parties.
 Payment period is the agreement between the two
parties.
 Payment can be paid by cash or by installment.
 Interest payment can be avoided as the customer
is paying the sale price which is that same as
interest charged on a loan.

25. MURABAHA

26. 1.
• Literally this means a sale on mutually agreed
profit.
• It is a contract of sale in which the seller declares
his cost and the profit.
2.
• Murabaha has been adopted by Islamic banks as a
mode of financing.
• As a financing techique, it can involve a request by
the client to the bank to purchase a certaine item
for him.
3.
• As a financing techique, it can involve a request by
the client to the bank to purchase a certaine item
for him.

28. ZAKAT
BASE
The net adjusted
amount of zakat
assets and
liabilities used
for or derived
from business
activities.
An entity is advised
to refer to the
relevant zakat
authorities for
further
An entity may
apply one of the
following method
by JAKIM 2011.
Two methods:
 Adjusted
working capital
method.
Adjusted
growth method.

29. MEASUREMENT
OF ASET AND
LIABILITY FOR
ZAKAT

30. • Current capital =
Owner’s Equity + Debt
Financial Capital + Profit
– Fixed Asset – Other Non
Current Assets
Urfiiyah
Method
• Net Current Asset =
Current Asset (full
ownership) – Current
Operating Liability only
Syar’iiyah
Method

32. MUDARABAH

33. MUDARABAHINTRODUCTION
BUSINESS OF
MUDARABAH
TYPES OF
MUDARABAH
DISTRIBUTION
OF PROFIT
TERMINATION
OF
MUDARABAH

34. INTRODUCTION
Rabb-Ul-Maal gives money
to another for investing.
Investment come from the
first partner (Rabb-Ul-Maal)
Management and work is
responsibility of the other
partner ( Mudarib)

35. BUSINESS OF
MUDARABAH
Rabb-Ul-Maal
Mudarib
- One Rabb-Ul-
Maal, one
Mudarib
Or
- One Mudarib,
many Rabb-Ul-
Maal
The profit
divide
based on
the
agreement

36. TYPES OF
MUDARABAH
Al-Mudarabah-Al-Muqayyah-Dah (restricted
only to such business as point out by Rabb-
Ul-Maal)
Al-Mudarabah-Al-Mutlaqah ( the Rabb-Ul-
Maal open it to Mudarib to undertake any
business he deems to fit.

37. DISTRIBUTION
OF PROFIT
Must be pre-
determined
by parties.
Money that
mudarib got
is based on
the profit.

38. Can be terminated
by two parties
Hanafi and
Hanbali jurist
Shafe’I and Maliki
jurist
TERMINATION OF
MUDARABAH

39. ZAKAT
DISTRIBUTION
ZAKAT FITRAH:
OBLIGATORY ON EVERY
PERSON IS 2.3KG OF THE
STAPLE FOOD OF THE
TERRITORY IN WHICH THE
PERSON
ZAKAT BUSINESS:
((CURRENT ASSET-CURRENT
LIABILITY) +/- CORDINATION x
% OF MUSLIM SHARE x ZAKAT
ABILITY (2.5%))
ZAKAT OF SHARE:
2.5% THE VALUE OF LOWEST
SHARE-SHARE WHICH IS
OWN FOR ONE YEAR MINUS
FOR SHARED BORROWED

40. ZAKAT DISTRIBUTION
ZAKAT HARTA:
ZAKAT RATE IS 2.5% OF TOTAL
ASSETS/
ZAKAT EPF:
-2.5% ON CONTRIBUTION THAT
ISSUED ONCE MONEY ISSUED.
-2.5% ON CONTRIBUTION EVERY
EMPLOYEE IS BASED ON ANNUAL
STATEMENT
ZAKAT OF SAVING:
CONTRIBUTION OF WORKERS
AND EMPLOYER'S TO KWSP
PEOPLE PROVIDENT
FUND,SOLDIERS PROVIDENT
FUND(LTAT) ARE REQUIRED TO
PAY ZAKAT

41. ZAKAT DISTRIBUTION
ZAKAT OF LIVESTOCK:
PROPERTY ZAKAT THAT
COMPUSORY TO BE TAKEN OUT
WHEN PERFECT THE CONDITION.
ZAKAT OF GOLD:
-NISAB ZAKAT GOLD USED = 200g
-GOLD ZAKAT NISAB UNUSED =
85g
ZAKAT ON CROPS:
BASIC FOOD WHICH HAS
REACHED THE STAGE OF
SATISFACTION FOR THE STATE
WHICH HAS 363 GATANG/1300g
LIKE PADDY,WHEAT,CEREAL AND
SO ON

42.  Grand of property that occurs
during the life of a hibah provider .
HIBAH

44. Donation and Hibah are both
a form of generosity owned .
Donation and Hibah is giving
freely without expecting
giving back .

46. DONATION HIBAH
 Giving something that
is based on concern for
the poor and needy .
 Based on the
provision of natural of
love .
 Grants are usually in
the form of money .
 This gift is usually in
the form of goods.
 Donation legal is
Sunnah Muakkad .
 Hibah legal is Sunnah
.

47. DEFINITION OF MURABAH
- An acceptable form of credit sale
under Sharia
( Islamic religious law ).
- At a price which includes a profit
margin agreed by both seller
and buyer

48. THE CONDITION
 Buying and selling price,other costs
and the profit margin must be
clearly stated during the sale
agreement.

49.  According to the islamic belief zakat
purifies wealth and soul.
 Zakat is a payment or tax of property and
give to who reserve.

50.  ZAKAT FITRAH
 Acts as a purification for fasting people from
their sins and also to be made as resources to
serve the need of the asnaf during 1 syawal.
 ZAKAT ON PROPERTY
 Posted by those who have some property
with the rate set to islam.

51.  Islam
 Independent
 Perfect possession
 Reaching nisab
 Reaching haul
 Intention to trade

52.  Fakir
 Poor
 Amil
 Converts
 Riqab
 Fisabilillah
 Al-Gharimin
 Musafir

53.  Create strengthens the love between the rich
and poor.
 To purifies wealth and soul.
 Test of faith and taq’wa.