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Deducting one’s debts when calculating zakaat

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: I have an auto loan (Islamic) on which some amount is outstanding. I also have a personal loan which I took out for investment. In order to calculate the net wealth for zakaat, am I allowed to deduct the total outstanding loan amount?

Bismillaah

A: Yes.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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