Q: I have jewellery for more than a year. However, I also have a personal loan for the same amount for which I am paying monthly and interest. So I am in debt for that much of amount the worth of which I have jewellery for more than a year. So do I need to pay zakaat for this ?
A: No. There will be no zakaat on the jewellery.
( وسببه ) أي سبب افتراضها ( ملك نصاب حولي ) نسبه للحول لحولانه عليه ( تام ) … ( فارغ عن دين له مطالب من جهة العباد ) .( الدر المختار 2/259)
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)