- EN (English)
Fatwa ID: | 81891 |
Title: | Zakat on loaned amount |
Category: | Poor-due or obligatory charity (Zakaah) |
Scholar: | Dr. Main Khalid Al-Qudah |
Date: | 07/17/2010 |
Question
Salaamu-alaikum warahmatullah, Do we have to pay zakat on money that we loan to the masjid for construction projects? The loan period on contract is for a period of 1 year (Ramadan to Ramadan). Jazak-Allah u khairan Wasalaaamu-alaikum
Answer
AAWW
You do not have to pay Zakah on what you lend to others till you actually get your money back. However, paying Zakah on the lent money is preferred, especially when paying off the loan is guaranteed.