Shaykh Muḥammad al-Amīn al-Shinqīṭī, d. 1393 AH (رحمه الله):

“The (scholars) have differed as it relates to the difference between the miskīn and the faqīr; which one of them is more in need and how they are each defined?

Firstly, they (the scholars) have unanimously agreed that both (terms) are synonymous when used separately, but when they are combined in a single expression, they extrapolate different meanings. So when one of these words is used alone, it includes the other…

It was said that the faqīr is more in need and this view is supported by what is mentioned in the statement of Allāh:

أَمَّا السَّفِينَةُ فَكَانَتْ لِمَسَاكِينَ يَعْمَلُونَ فِي الْبَحْرِ

‘As for the ship, it belonged to masākīn working in the sea. ‘
[al-Kahf, 18:79]

Allāh called them masākīn (poor) despite having a ship through which they earned their provision. Likewise due to the statement of the Prophet (صلى الله عليه وسلم), “O’ Allāh cause me to live poor and to die poor…” compared to his (صلى الله عليه وسلم) statement, “O’ Allāh I seek your refuge from al-faqr (poverty)”. This is what the majority are upon as opposed to Imām Mālik.

It was said that the definition of each of them is as follows:

Miskīn (poor person): the one who finds only a minimal amount that suffices him.
Faqīr (destitute person): the one who finds nothing at all.

And Allāh, the Most High, knows best.”

Source: Aḍwāʾ al-Bayān, 8/534.
Translated by: Munīb al-Ṣumālī