Fatwaa ID: 313

Question:
بسم الله الرحمن الرحيم

As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

I hope that you are well. I have two questions I hope that you can clarify things for me.

I have been saving some money (gifts from family and from my wage etc) for my son (2 Years old) I have not put the money in his name or made him the owner of it as of yet but this is my intention for when he is older Inshallah so he can use it towards studies etc.

I do use some of this money and put it back from time to time. Thus I believe that I should pay Zakat for this money. Is this ok for me to do?

Also I have 2 loans (interest free) from the bank (most of which is in my name but for a family member) also from a family member. I have agreed to making regular payments till May 2024 to pay these off. But I would like to preform Hajj can I do so if I uphold my agreement to return these loans or must I repay the loans first?

JazakAllah Khair

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

1. May Allaah Ta’aala bless your son. As long as the money remains in your name, it will be regarded as yours. You will be responsible for its zakaah. You may use it as you wish. It will only become your son’s once you transfer ownership to his name.
2. As long as you are confident that you will be able to make timeous payments despite undertaking the Hajj journey and you will be able to pay off your debts by the agreed date without incurring any interest or fees, it will be permissible for you to go for Hajj.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

06/15/1444 AH – 01/08/2023 CE | AMG-3404

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

__________________
Disclaimer

Darul Iftaa New York answers questions on issues pertaining to Shari’ah. These questions and answers are placed for public view on askthemufti.us for educational purposes. The rulings given here are based on the questions posed and should be read in conjunction with the questions. Many answers are unique to a particular scenario and cannot be taken as a basis to establish a ruling in another situation. 

Darul Iftaa New York bears no responsibility with regard to its answers being used out of their intended contexts, nor with regard to any loss or damage that may be caused by acting on its answers or not doing so.

References and links to other websites should not be taken as an endorsement of all contents of those websites. 

Answers may not be used as evidence in any court of law without prior written consent of Darul Iftaa New York.