Zakat and how it can transform Pakistan into a first world country

[game]

was the nationalisation in 70s by Bhutto was not a kind of Zakat ?
Was US and Saudi aid all these year was not a zakat ?

Free money will never build any nation,rather it will make people/rulers lazy and as they see no incentive to work,achieve and grow..just like a spoiled kid of a wealth father !

Hardwork and honesty always wins !

 

[PeterboroughAli]

was the nationalisation in 70s by Bhutto was not a kind of Zakat ?
Was US and Saudi aid all these year was not a zakat ?

Free money will never build any nation,rather it will make people/rulers lazy and as they see no incentive to work,achieve and grow..just like a spoiled kid of a wealth father !

Hardwork and honesty always wins !

Sorry brother I have got only talked about collection, I have not talked about receiving the money at all. I have said Zakat should not be paid on intangible assets as it is mostly Knowledge. Nowhere does it say in Islam there is Zakat on knowledge. With no Zakat on intangible assets but on tangible assets like land and real estate it will move the economy towards a knowledge economy.

 

[game]

Sorry brother I have got Bly talked about collection, I have not talked about receiving the money at all. I have said Zakat should not be paid on intangible assets as it is mostly Knowledge. Nowhere does it say in Islam there is Zakat on knowledge. With no Zakat on intangible assets but on tangible assets like land and real estate it will move the economy towards a knowledge economy.

The idea looks good on paper,but practically not possible. If a popular leader like IK, gives a call people will come forward and contribute a lot out of trust and emotion, but the system which has to implement and take it forward has to be honest and willing..Just look at the flood donation tents ,blankets,etc stuff from foreign countries ..they are sold on daraz and local markets ..the same will be the fate of tangible assets.. suppose someone donate a car or a truck, it may be posted as lost item and end up in second hand spare parts market or sold with a fake plate !

BTW you know the fate of dam fund

 

[PeterboroughAli]

The idea looks good on paper,but practically not possible. If a popular leader like IK, gives a call people will come forward and contribute a lot out of trust and emotion, but the system which has to implement and take it forward has to be honest and willing..Just look at the flood donation tents ,blankets,etc stuff from foreign countries ..they are sold on daraz and local markets ..the same will be the fate of tangible assets.. suppose someone donate a car or a truck, it may be posted as lost item and end up in second hand spare parts market or sold with a fake plate !

BTW you know the fate of dam fund

Sorry you don’t understand you have to pay 2.5% on the tangible asset not give the whole tangible asset away.

 

[AZADPAKISTAN2009]

'FREEDOM' FIRST > ECONOMY LATER

Election
-> Government
-> Policy for Taxes

 

[PeterboroughAli]

'FREEDOM' FIRST > ECONOMY LATER

Election
-> Government
-> Policy for Taxes

Why can’t we discuss it now, if you don’t want to be part of the discussion you don’t have to be

 

[epebble]

Arabs have stopped investing in R&D you do not outsource as why give your intellectual property away for free to others, spend your hard earned money, you did not read the article it says for other countries Zimbabwean researchers have accomplished a lot. Every country is blessed with It’s intellectuals.

Nigeria should invest in research, innovation

Nigeria’s abysmal contribution to global research, particularly in tropical diseases and medicine, was brought recently into focus by stakeholders at a forum, where they bemoaned the country’s failings despite its ample supply of manpower.

punchng.com

Islamic golden age, Arabs can be very innovative.


You take away tangible assets, houses and land then let investment and gains be made towards intangible assets people fighting over land would fight each other for intellectual property through knowledge


Study shows humbleness trumps even iq in performance.

Is this the secret of smart leadership?

Forget charisma. Psychological research shows that intellectual humility can make you a better learner, a better decision maker, and a better leader

www.bbc.com

Arabs know they get more bang for their Dinar by asking someone else to do the thinking. It is a smart way of creating more wealth just as USA and UK import textiles from Bangladesh and Pakistan. Each does what they can do most productively. Zimbabwe researchers have accomplished zilch. They don't even know how to run a monetary system based on paper currency.

Islamic golden age was before renaissance. It was so long back that there was not even Scientific Method.
If you take away tangible assets, money will be spent on consumption, not creation of intellectual property. Intellectual property will be created only if there is value for it.

If humbleness is so great, why hasn't Indonesia produced a single Nobel laureate? You can't find nicer and gentler people than them.

 

[PeterboroughAli]

Arabs know they get more bang for their Dinar by asking someone else to do the thinking. It is a smart way of creating more wealth just as USA and UK import textiles from Bangladesh and Pakistan. Each does what they can do most productively. Zimbabwe researchers have accomplished zilch. They don't even know how to run a monetary system based on paper currency.

Islamic golden age was before renaissance. It was so long back that there was not even Scientific Method.
If you take away tangible assets, money will be spent on consumption, not creation of intellectual property. Intellectual property will be created only if there is value for it.

If humbleness is so great, why hasn't Indonesia produced a single Nobel laureate? You can't find nicer and gentler people than them.

Please provide me examples of Arabs outsourcing their R&D. Read the article Zimbabwe has researchers who have produced for other countries. Sorry but your saying Islamic golden age doesn’t know about science.

People want to get ahead and Zakat obligations mean people will have to have investments. If consumption on tangible assets they have to pay Zakat on them, it will be a liability for them.

Maybe Indonesia is not spending on R&D, 0.28% a negligible amount.

 

[epebble]

Please provide me examples of Arabs outsourcing their R&D.

Here’s where Saudi Arabia has invested around the world​ By Ivana Kottasová, CNN Business Updated 3:07 AM EDT, Wed October 17, 2018 LondonCNN Business — Saudi Arabia has spent the past few years pumping its oil riches into Silicon Valley. Now those investments are coming under scrutiny as the kingdom faces growing isolation in the business world over the unexplained disappearance of prominent journalist Jamal Khashoggi. Tech companies have been among the major beneficiaries of Saudi Arabia’s bid to diversify its economy, receiving billions of dollars via direct investments from the country’s sovereign wealth fund, or indirectly through a massive fund established with Japan’s SoftBank (SFTBF). Other sectors have also received Saudi cash, including infrastructure, steel and hotels. Public Investment Fund​ Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund (PIF), has beefed up its investments around the world since Crown Prince Mohammed bin Salman took charge of the fund in March 2015. It has pumped $45 billion into the SoftBank Vision Fund, accounting for nearly 50% of the capital committed. Separately, PIF has invested $3.5 billion in Uber in 2016, and its managing director Yasir Al Rumayyan sits on the company’s board. The fund has also built up a stake of roughly 5% in Tesla (TSLA), according to the company’s CEO Elon Musk. Last month, the PIF announced it would invest $1 billion in Tesla rival Lucid Motors. Earlier this year, the fund pumped nearly half a billion dollars into Magic Leap, a startup working on augmented reality products. But it’s not just about tech. The PIF has also committed $20 billion to a Blackstone infrastructure investment fund, which was set up to invest in more than $100 billion of infrastructure projects, mostly in the United States. It also holds stakes in steelmakers ArcelorMittal (MT) and POSCO (PKX), as well as AccorInvest, the owner of Accor hotels. Vision Fund investments​ SoftBank’s $93 billion Vision Fund is largely funded by Saudi Arabia. Data from Dealogic shows the fund has pumped billions into tech startups around the world. SoftBank's deep ties with Saudi Arabia are making investors nervous Last year, it invested $4.4 billion in WeWork, the startup that has set up popular co-working spaces in cities across the globe. A $2.25 billion investment into GM’s (GM) driverless car subsidiary, GM Cruise Holdings, followed this year. Slack, DoorDash and Improbable Worlds are among other companies that have received Vision Fund cash. The fund also holds a 25% stake in Arm Holdings, a UK semiconductor and software company that SoftBank bought for $32 billion in 2016. Individual investors​ A large chunk of Saudi investments abroad is held by private investors. Most prominent among them is the billionaire Prince Alwaleed Bin Talal. Saudi Prince Alwaleed Bin Talal, the billionaire founder of Kingdom Holding. Guy Martin/Bloomberg/Getty Images He is a long time investor in Twitter (TWTR) and acquired a 2.3% stake in Snapchat (SNAP) earlier this year, having invested $250 million in the company in May. His Kingdom Holding Company also owns stakes in Lyft and the French music streaming company Deezer, according to data from Refinitiv. Daniel Shane, Zahraa Alkhalisi and Sherisse Pham contributed reporting.

 

[PeterboroughAli]

Here’s where Saudi Arabia has invested around the world​ By Ivana Kottasová, CNN Business Updated 3:07 AM EDT, Wed October 17, 2018 LondonCNN Business — Saudi Arabia has spent the past few years pumping its oil riches into Silicon Valley. Now those investments are coming under scrutiny as the kingdom faces growing isolation in the business world over the unexplained disappearance of prominent journalist Jamal Khashoggi. Tech companies have been among the major beneficiaries of Saudi Arabia’s bid to diversify its economy, receiving billions of dollars via direct investments from the country’s sovereign wealth fund, or indirectly through a massive fund established with Japan’s SoftBank (SFTBF). Other sectors have also received Saudi cash, including infrastructure, steel and hotels. Public Investment Fund​ Saudi Arabia’s sovereign wealth fund, known as the Public Investment Fund (PIF), has beefed up its investments around the world since Crown Prince Mohammed bin Salman took charge of the fund in March 2015. It has pumped $45 billion into the SoftBank Vision Fund, accounting for nearly 50% of the capital committed. Separately, PIF has invested $3.5 billion in Uber in 2016, and its managing director Yasir Al Rumayyan sits on the company’s board. The fund has also built up a stake of roughly 5% in Tesla (TSLA), according to the company’s CEO Elon Musk. Last month, the PIF announced it would invest $1 billion in Tesla rival Lucid Motors. Earlier this year, the fund pumped nearly half a billion dollars into Magic Leap, a startup working on augmented reality products. But it’s not just about tech. The PIF has also committed $20 billion to a Blackstone infrastructure investment fund, which was set up to invest in more than $100 billion of infrastructure projects, mostly in the United States. It also holds stakes in steelmakers ArcelorMittal (MT) and POSCO (PKX), as well as AccorInvest, the owner of Accor hotels. Vision Fund investments​ SoftBank’s $93 billion Vision Fund is largely funded by Saudi Arabia. Data from Dealogic shows the fund has pumped billions into tech startups around the world. SoftBank's deep ties with Saudi Arabia are making investors nervous Last year, it invested $4.4 billion in WeWork, the startup that has set up popular co-working spaces in cities across the globe. A $2.25 billion investment into GM’s (GM) driverless car subsidiary, GM Cruise Holdings, followed this year. Slack, DoorDash and Improbable Worlds are among other companies that have received Vision Fund cash. The fund also holds a 25% stake in Arm Holdings, a UK semiconductor and software company that SoftBank bought for $32 billion in 2016. Individual investors​ A large chunk of Saudi investments abroad is held by private investors. Most prominent among them is the billionaire Prince Alwaleed Bin Talal. Saudi Prince Alwaleed Bin Talal, the billionaire founder of Kingdom Holding. Guy Martin/Bloomberg/Getty Images He is a long time investor in Twitter (TWTR) and acquired a 2.3% stake in Snapchat (SNAP) earlier this year, having invested $250 million in the company in May. His Kingdom Holding Company also owns stakes in Lyft and the French music streaming company Deezer, according to data from Refinitiv. Daniel Shane, Zahraa Alkhalisi and Sherisse Pham contributed reporting.

Rather be like the Chinese invest in R&D at home and make homegrown tech giants rather than build up other countries companies

Also this is investment in companies not a direct investment in R&D outsourcing

 

[epebble]

Rather be like the Chinese invest in R&D at home and make homegrown tech giants rather than build up other countries companies

Also this is investment in companies not a direct investment in R&D outsourcing

What is the hardest work you have seen an Arab do? Picking up money. Bin Talal knows this.

 

[Jeeten Parikh]

It won’t crash people in need of houses will buy them, not a speculative asset for super rich.

In the UK there are R&D tax credits etc incentives for companies to take part in R&D. Zakat Mash Allah is a system that inherently is pro R&D.

r&d tax credit is very common. But that's not what you're advocating. Instead of direct r&d tax credit you are advocating not taxing parts of wealth and you are HOPING that beneficiaries will use that for R&D !!

Instead just provide direct tax credit for r&d . Simple.

 

[ThunderCat]

The best zakat is birth control and colorie limitation for Pakistan.

 

[Baburfromsarmarkand]

Can almost guarentee if we find oil, the elites would sell it off for peanuts while the nation gets nothing. Gotta commend the Arabs for not ending up like Venezvuela or the Congo.

 

[fitpOsitive]

From my research Zakat is payable only on tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.


So I asked two questions to figure out if intangible assets was wealth. First figuring out if intangible assets is not wealth then figuring out tangible assets is wealth.


Intangible assets is not wealth

If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.


Tangible assets is wealth

If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.


From my research Zakat is payable only tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.



So I asked two questions to figure out if intangible assets was wealth. First figuring out intangible assets is not wealth then figuring out tangible assets is wealth.



Intangible assets is not wealth



If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.



Tangible assets is wealth



If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.



What happens when we live in a Zakat system with correctly no Zakat payable on intangible assets. Investors crave intangible assets as no Zakat is due on them. The economy starts to produce more intangible assets through R&D(research and development).



Now it has been said to make a successful economy you need to improve the level of R&D that is conducted within it. With successful large economies still investing large amounts in R&D.

So will this make Pakistan into a first world country?

The concept of Zakat is a part of Islam because Islam promotes an environment where people don't become slaves if they don't accumulate money.
Zakat is all about money flow from too much money to too less money, the very essence of humanity.

Indians here don't get that concept, as Hinduism doesn't have such concepts. That's the reason why in ancient times India was rich, because people accumulated money, they always did. That's the reason why poverty in India is unmatched with any other society, beside the fact that India is a rich country. And that's the reason why poverty in Pakistan is not that hurting even if Pakistan is a poor country.

And Indians here should keep their opinions with them.