Zakah on debt


195

A: You must pay Zakah if you have an amount of money and a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) passes while it is still in your possession. In your case, it is the million riyals or thereabouts; you must pay 2.50% of that amount. Even if you are indebted to the government or any other body, your debt does not exempt you from paying Zakah for the money that you have, except the amount that you paid before a Hawl passes while it is in your possession. May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.




Tags: