Zakaat on loans given to people
Question
Kindly explain the difference between “debts owed to a person and monies loaned to people”.
As I understand, zakaat on the loan will be paid by the one who has given the loan and not by the one who receives the loan.
Answer
Zakaat is payable on loans given to people and debts which are owed to a person in exchange of goods of trade that were sold. The zakaat of both will have to be discharged by the person to whom the monies are owed.
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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