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I have some money on which rules of zakat are applicable.

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

 

One of our brothers/sisters has asked this question:

I have some money on which rules of zakat are applicable. if I lent out whole money to some one.
Should I pay zakat on this amout? 

 

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Answer:


 

Zakah o loaned money

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

The majority of the scholars and jurists in Islam are of the opinion that the one who gives the loan is the inherent owner of that wealth, and thus he would indeed be liable to pay its annual zakah on their excess wealth.

 

Some scholars have opined that if one has given a loan and is absolutely confident that the debtor will repay their loan, they should pay its due zakah on their excess wealth; but if one has given a loan and is not absolutely confident that the debtor might pay back their loan, there is no harm if one postpones the paying of the accrued zakah when their loan is repayed. And Allah Alone Knows Best.

 

Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

 

Your brother and well wisher in Islam,

 

 

Burhan

 


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