Zakaat on money loaned to people
Question
I have loaned some money to a relative and wanted to know while paying zakaat, do I have to include the loaned amount or only when I receive it?
Answer
The money loaned will have to be included in your zakaat. However you have the option to discharge the zakaat of the money loaned before receiving it or after receiving it. In the case where you intend to discharge the zakaat upon receiving the money, then if the money was received after few years, the zakaat of the previous years will have to be discharged.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
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