Zakaat on Loan (Lent Out)
Question:
Assalaamu Alikum Mufti Waseem
I just wanted to find out something with regards to Zakat. If you lend some one money and they have not paid you back up till date..do you still have to include it in the Nisaab when you are calculating your Zakat??
Jazaak Allah
Wa Alaikum As Salaam
Seeing that you are the owner of the money you lent out, you will be required to include it in your savings while calculating your Zakaat, even though they have not paid it back as yet. If it is difficult to do so at the present moment, then you can wait until you collect the monies owed to you and pay the Zakaat on it at that time (when you receive it).
And Allah Knows Best
Mufti Waseem Khan
14/6/2017