Jamiat KZNJamiatul Ulama KZN

FAQ’S Pertaining To Zakaat (12/20)

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FatwaFiqhzakat

Question

Do I have to pay Zakaat on money I have given to a person as a loan?

Answer

Zakaat is compulsory on debt receivables arising from forwarding a loan or selling stock on credit. The creditor may choose to pay Zakaat on debts receivable as per his Zakaat year or defer payment until the debt is paid whereupon any Zakaat due for previous years will have to be paid.

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