Sunday, April 14, 2024
No menu items!

Zakaah on loaned amount

Fatwaa ID: 693

Asalamualaikum Mufti saheb
A quick question Maulana,
If a person has loaned some money 💰 to a person, does the lender have to pay zakaat on the money given. The lender has full expectation of receiving the money back – but is not entirely sure when that will be.

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

The lender/creditor has to pay the zakaah for the loaned amount. He can pay the zakaah annually or once he gets the money back, in which case he will backdate for the previous years.

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


Darul Iftaa New York answers questions on issues pertaining to Shari’ah. These questions and answers are placed for public view on 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.