Fatwa ID: 06691

Answered by: Mufti Muhammad Asadullah Anwar Adam

Question:

I need help in calculating my zakat.

I have two houses. I am living in 1 which I bought a few years back but I still owe the bank £11000 which I am paying monthly.

2nd house which I have given on rent. I still owe the bank £58000 on that. I bought that for £110000. so am I supposed to give Zakat on this house/money? I am paying my monthly mortgage with rent money

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

Answer:

Debts are an exemption from Zakaat [1]. Due to your debt being a recurring one with regular instalments, only the instalments for one Islamic year will be exempted from Zakaat.

Therefore, each year will be counted separately as the year comes to an end and not as a total debt due to the possibility in the future of the debt being forgiven, or the instalments being increased or decreased etc

[1][Raddul Mukhtar page 237, volume 3, Dar Sadir Print]

Only Allah knows best

Written by Mufti Muhammad Asadullah Anwar Adam

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham