Deductions from Zakatable total : deduction of long term loans from Zakatable items
Fatawa Question
Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh, Some people take long term loans, which are paid back in installments. They generally offset the whole loan amount against the Zakatable assets and say the do not have any Zakah to pay. However in practice they only pay off the loan in small installments every year. We understand that the current installment amount can only be offset against the Zakatable assets and not the whole loan amount every year. Please enlighten us and guide us. With best regards. Allah Hafiz.
Fatwa
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Publication Date
2006-12-12
Main Subjects
Economics & Business Administration
Islamic Studies
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-792336
American Psychological Association (APA)
Qahf, Mundhir. 2006-12-12. Deductions from Zakatable total : deduction of long term loans from Zakatable items. .
https://search.emarefa.net/detail/BIM-792336
Modern Language Association (MLA)
Qahf, Mundhir. Deductions from Zakatable total : deduction of long term loans from Zakatable items. 2006-12-12.
https://search.emarefa.net/detail/BIM-792336
American Medical Association (AMA)
Qahf, Mundhir. 2006-12-12. Deductions from Zakatable total : deduction of long term loans from Zakatable items.
https://search.emarefa.net/detail/BIM-792336
