{"id":4323,"date":"2012-08-04T16:35:52","date_gmt":"2012-08-04T16:35:52","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/?p=4323"},"modified":"2012-08-04T16:35:52","modified_gmt":"2012-08-04T16:35:52","slug":"zakat-on-short-and-long-term-loans","status":"publish","type":"post","link":"https:\/\/daruliftabirmingham.co.uk\/home\/zakat-on-short-and-long-term-loans\/","title":{"rendered":"Zakat on short and long term loans"},"content":{"rendered":"

I have mortgage for the home I am living with family, and also for the car I am driving for personal need. I have Nisab amount of gold. Should I take my mortgage instalment payment into account for Zakat calculation? Please make it clear. Thank you.<\/p>\n

In the name of Allah, the most Beneficent, the most Merciful.<\/strong><\/p>\n

Answer<\/h1>\n

Regarding short-term and long-term loans, the preferred opinion is that only short-term loans will be deducted and not the long-term loans. Therefore, with regards to your question only the monthly mortgage repayments should be deducted from your zakatable assets and not the total mortgage. (Jadeed Fiqhi Masaail p.213 v.1)<\/p>\n

Finally, as you have the gold nisab for zakat, it will be obligatory for you to give 2.5% of the total value of the gold. Zakat is compulsory upon a person who possesses the quantum of nisab (i.e. 612.35 grams of silver or 87.47 grams of gold or currency, wealth equivalent to that amount) for a complete lunar year; which is over and above his basic needs and also free from debts. (Raddul Muhtar p.171 v.3)<\/p>\n

Only Allah Knows Best<\/p>\n

Mohammed Tosir Miah<\/p>\n

Darul Ifta Birmingham<\/p>\n","protected":false},"excerpt":{"rendered":"

I have mortgage for the home I am living with family, and also for the car I am driving for personal need. I have Nisab…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/4323"}],"collection":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=4323"}],"version-history":[{"count":0,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/4323\/revisions"}],"wp:attachment":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=4323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=4323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=4323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}