Question on loans and zakaat

Answered according to Hanafi Fiqh by DarulUloomTT.net
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I just need some clarification, with regards to Zakat calculation, I am currently paying 2 loans, do I add the Total remaining balance to my liabilities or just the monthly instalments at the time of paying?

Wa Alaikum Assalaam,

الجواب و بالله التوفيق

You will add the monthly installments that are due at the time of paying Zakaah, and not the total remaining balance.

And Allah Knows Best.

Mufti Waseem Khan.


This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.