Zakat on a large loan.

Fatwa ID: 02731

Answered by: Aalimah Nasima Umm Hamza​

Question:

Assalamu Alaikum Wa Rahmatullah!

Hazrat, I am trying to understand another masala, for example, Zaid takes a loan of $5,000 from his brother, and his brother tells him to pay $200/month, but Zaid doesn't pay every single month, but on and off.

Would it be necessary to deduct however much money Zaid owes his brother of that loan when calculating Zakat? Or, Zaid will not deduct anything because his brother is not making مطالبة of the money?

But at the same time, Zaid's brother did not verbally mention to him that he has pardoned the debt. Would qiyas here be made on مهر مؤجل, in terms of it not being deducted because of عدم المطالبة عادة? Jazak Allahu Khairan

 

بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم

In the name of Allah, the Most Gracious, the Most Merciful.

Answer:

Assalamu Alaikum Wa Rahmatullahi Wa Barakaatuh,

Zaid would deduct any money owed off his wealth when calculating his Zakat.

 

He would need to consider the debt with his brother in his calculations since they have already made an agreement of repayment. The principle here, is that all things are considered to be upon their status quo, so unless Zayd’s brother said or indicated in some way that he has forgiven the debt, it would be assumed that the debt still remains. [1]

 

Allah (swt) alone knows best.

 

Answered by Aalimah Nasima Umm Hamza

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

 

 

 

 

Comments are closed.