Darul Iftaa, Darul Uloom Zakariyya

I loaned someone money which would be paid back after 3 years. Do I have to pay Zakaat on it?

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Question

I loaned someone money which would be paid back after 3 years. Do I have to pay Zakaat on it?

Answer

Zakat on the loan you forwarded would not be payable now until you take possession of it. Once it comes back into your possession, Zakaat would be compulsory for all the previous years as well.

And Almighty Allah knows best

References (Arabic / Urdu sources)

Fatāwā Dārul Ulūm Zakariyyā, Vol. 3, Pg. 122-123

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