Do You Pay Zakat on Loaned Money? Key Guidelines for Borrowed Funds
Question: A sister lent money to a relative to buy an apartment, which is expected to be returned. Will she have to pay Zakat on this amount after a year?
Answer: If a woman has lent money to someone to buy an apartment, she will have to pay Zakat on that money after a year, provided the amount reaches the Nisab (minimum amount for Zakat). It is important to note that if she has additional money, she should combine it with the loan amount and calculate Zakat on the total.
✍ Sheikh Maqbool Ahmed Salafi Hafidhahullah
❪Jeddah Dawah Center – Al-Salamah – Kingdom of Saudi Arabia❫