Question
Do I have to pay Zakaat on money which I have given as a loan?
Answer
Zakaat has to be paid on money loaned out when the money is repaid. If repayment is received after two years, for example, then Zakaat has to be paid for two years. As long as repayment has not been received, the Zakaat will not be due.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 22 No 03
- PDF page
- 2
Appears under Questions and Answers (approximate).