Wednesday, July 17, 2024
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Zakaah on loan

Fatwaa ID: 981

Assalaamu alaikum Mufti Saab.

Must I pay zakat on money I lone to friends or family.

Also if I have taken a loan for a family member and I am paying it back but they will owe me the money and give it back when they can. Do I pay zakat oh that money?

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

  1. Yes. Money that you have loaned to others is subject to zakaah. You may pay it annually or once you backdate it for the previous years once you receive it back.
  2. You will deduct the amount you owe as a debt. You will pay for what the family member owes you.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين


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