In this article I propose a solution to the problem mentioned in the table below:
|Commodity to be exchanged with||Market value|
|1 Sheep||PKR 9,766|| Does not equal in market value
but equal in Zakat
|63.525 kgs of wheat||PKR 2,238|
|1 Sheep||PKR 9,766||Equal in market value but not equal in Zakat||277.205 kgs of wheat||PKR 9,766|
The comparison presented in the table above demonstrates that sheep and wheat given in zakat should be equal to one and other but since they have different market values in monetary terms the money given in zakat will not be equal. It is far more convenient for the shepherd to pay PKR 2,238 or give zakat in wheat to a needy person than give away a best of his sheep in Zakat which is worth PKR 9,766 without breaking the sharia law. In this case, while zakat given on two commodities is certainly equal their market value is not.
Similarly, if we consider that the market value of the two commodities should be equal, then we would have to give 277.205 kgs of wheat in zakat which is more than 4 times of the amount to be given in zakat.
Impact of this imbalance on the market and economy thus require further study, but this isn’t something that can be ignored.
Which begs a further question, how to balance the market value of commodities given in zakat?
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