I have some money on which rules of zakat are applicable.
Mu' meneen Brothers and Sisters,
As Salaam Aleikum wa Rahmatullahi wa Barakatuh.
(May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked
this question:
I have
some money on which rules of zakat are applicable. if I lent out whole money to
some one.
Should I pay zakat on this amout?
(There may be some grammatical and spelling
errors in the above statement. The forum does not change anything from
questions, comments and statements received from our readers for circulation in
confidentiality.)
Answer:
Zakah o loaned money
In the name of Allah, We praise Him, seek His
help and ask for His forgiveness. Whoever Allah guides none can misguide,
and whoever He allows to fall astray, none can guide them aright. We bear witness
that there is none worthy of worship but Allah Alone, and we bear witness that
Muhammad (saws) is His slave-servant and the seal of His Messengers.
The majority of the scholars and jurists in Islam are of
the opinion that the one who gives the loan is the inherent owner of that
wealth, and thus he would indeed be liable to pay its annual ‘zakah’ on their
excess wealth.
Some scholars have opined that if one has given a loan and
is absolutely confident that the debtor will repay their loan, they should pay
its due ‘zakah’ on their excess wealth; but if one has given a loan and is not
absolutely confident that the debtor might pay back their loan, there is no
harm if one postpones the paying of the accrued zakah when their loan is
repayed. And Allah Alone Knows Best.
Whatever written of Truth and benefit is only
due to Allah’s Assistance and Guidance, and whatever of error is of me
alone. Allah Alone Knows Best and He is
the Only Source of Strength.
Your brother and
well wisher in Islam,
Burhan