If I lend some money out of my savings or I borrow money,whether i will have to pay zakat on these amounts?
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-liableamount 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