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ZAKAT on LOAN amount

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
Many people take loan from me for a long time. I wanted to know whether I should pay zakah of that amount which I give people as loan.

بسم الله الرحمن الرحيم

(Fatwa: 1192/821/L=09/1435)

Yes, it is necessary to pay zakah of the amount which you have given someone as loan provided the conditions which make zakah wajib are found. You have options in paying zakah whether you pay zakah in advance or pay the zakah of previous years later after you receive the amount.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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