Home » Hanafi Fiqh » Darulifta-Deoband.com » Do I have to pay zakat on money I have borrowed or loaned out from my savings?
Answer
(Fatwa: 759/743=L)
One has to pay zakah of the money he has given as debt provided the credited money and other wealth of him are equivalent to zakah-liable amount and they are in his possession from one lunar year. But, in case of taking debt zakah is not liable on the debt amount.
Allah (Subhana Wa Ta’ala) 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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