Islamic Finance: Nisab and Zakāh
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Questions and Answers

Ṣadaqah is giving with the intention of receiving something in return.

False

Benefactors determine the amount of Ṣadaqah.

True

Ṣadaqah only encompasses financial acts in Islamic thought.

False

Speaking kind words is an example of a finance-related act of Ṣadaqah.

<p>False</p> Signup and view all the answers

Wasiyyah is a compulsory charity in Islam.

<p>False</p> Signup and view all the answers

The maximum net wealth that can be allocated through Wasiyyah is half of one's assets.

<p>False</p> Signup and view all the answers

The one-third limit for Wasiyyah is a minimum requirement in Islam.

<p>False</p> Signup and view all the answers

Legal heirs receive the full estate if Wasiyyah is not specified by the deceased.

<p>True</p> Signup and view all the answers

Zakāh must be paid on all types of wealth, regardless of its value.

<p>False</p> Signup and view all the answers

Zakāh rate is always 2.5% of one's total wealth.

<p>True</p> Signup and view all the answers

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