Scholarly Sources & References
Every calculation in Rafiq is grounded in established Islamic jurisprudence. This page lists the primary scholarly sources, standards, and data providers that underpin our zakat, khums, AAOIFI screening, and tatheer engines.
Zakat Sources
al-Sistani, Tawdih al-Masa'il, Mas'alah 1863
Defines the Ja'fari nisab weights: 20 dinar shar'i × 3.456g = 69.12g gold; 200 dirham shar'i × 2.4192g = 483.84g silver. These differ from the Sunni consensus (85g gold / 595g silver) due to different mithqal/dirham weight standards.
Sunni Nisab Standard (Four Schools)
20 mithqal × 4.25g = 85g gold; 200 dirham × 2.975g = 595g silver. This consensus threshold is shared by the Hanafi, Shafi'i, Maliki, and Hanbali schools and is derived from authenticated hadith regarding the minimum zakatable amounts.
FCNA (Fiqh Council of North America) Position on Retirement Accounts
The FCNA has ruled that retirement accounts (401k, IRA, 403b) should be included in zakatable wealth, applying a reduced ratio to account for penalties and restrictions on early withdrawal. Rafiq uses a 1/3 zakatable ratio for retirement accounts when this position is followed.
Madhab-Specific Deduction Rules
Hanafi: deducts debts and living expenses from zakatable wealth before calculation. Shafi'i: no debt deduction (zakat on gross assets). Maliki and Hanbali: deduct debts but not living expenses. These positions are derived from the respective schools' usul al-fiqh on zakat.
Cryptocurrency Classification as Tradeable Goods (Urud al-Tijarah)
Contemporary scholars have classified cryptocurrencies as tradeable goods subject to zakat at full market value. This classification applies across all four Sunni madhabs. Ja'fari followers treat crypto holdings under khums rather than zakat.
Jewelry Zakatability by School
Hanafi: personal jewelry is always zakatable. Shafi'i, Maliki, Hanbali: jewelry in regular personal use is exempt unless held primarily as a store of wealth. Ja'fari: personal jewelry is excluded from zakat (khums may apply to surplus). Rafiq implements per-madhab opt-in toggles reflecting these positions.
Stock Zakatable Ratio (1/3 Rule)
When calculating zakat on stock investments, approximately 1/3 of the market value is considered zakatable. This accounts for the fact that a company's tangible fixed assets (buildings, machinery, equipment) are not subject to zakat; only the liquid and current asset portion is zakatable.
Khums Sources
Quran, Surah al-Anfal 8:41
The foundational verse establishing the khums obligation: one-fifth (20%) of surplus wealth. Ja'fari jurisprudence applies this broadly to annual surplus income, while Sunni schools generally limit it to war spoils.
al-Sistani, Practical Laws of Islam (Khums Section)
Defines the seven categories subject to khums: surplus income (most common), minerals (ma'dan), treasure troves (kanz), sea finds (ghaws), land purchased from a dhimmi, mixed halal-haram property, and property appreciation. Also establishes the 50/50 split between Sahm al-Imam and Sahm al-Sadat.
AAOIFI Screening Sources
AAOIFI Shariah Standard No. 21: Financial Papers (Shares and Bonds)
Establishes the quantitative screening criteria for equity investments: total debt / market capitalization < 33%, interest income / total revenue < 5%, cash and interest-bearing securities / market capitalization < 33%, and the qualitative requirement that the company's core business must be halal.
AAOIFI Shariah Standard No. 35: Zakah
Provides standardized guidance on zakat calculation for financial institutions and individuals, including treatment of different asset classes, investment vehicles, and business inventory.
Dow Jones Islamic Market (DJIM) Index Methodology
The DJIM index methodology provides sector-level and company-level Shariah screening. Rafiq's 2,127-stock Shariah index is derived from DJIM-compatible screening criteria applied to US-listed equities.
Tatheer (Purification) Sources
Dividend Purification Methodology
When a company earns a small portion of revenue from non-compliant sources (below the AAOIFI threshold), the corresponding fraction of dividends should be donated to charity. The purification amount = non-compliant revenue ratio × dividend received. This position is held by most contemporary Islamic finance scholars and AAOIFI-compliant funds.
Data Sources
Financial Modeling Prep (FMP) API
Provides real-time and historical financial data including company profiles, dividend history, income statements (for non-compliant ratio calculation), and stock search. Used via FMP's /stable/ endpoints for tatheer calculations and stock screening.
Live Metal Prices API
Real-time gold and silver spot prices used to calculate nisab thresholds in USD. Gold price determines the gold nisab (85g × spot price for Sunni; 69.12g for Ja'fari); silver price determines the silver nisab (595g × spot price for Sunni; 483.84g for Ja'fari).
Rafiq Shariah Index (2,127 Stocks)
A curated dataset of US-listed equities that pass DJIM-compatible Shariah screening criteria. Includes stock symbol, company name, sector, and region. Updated periodically and used for the halal stock screener and tatheer autocomplete.
Rafiq is an educational calculation tool, not a religious authority or financial advisor. Scholarly references are provided for transparency. For authoritative rulings on your specific situation, consult a qualified Islamic scholar or mufti in your locality.