Question
Do I have to pay Zakaat on the money I have loaned to people?
Answer
Zakaat on outstanding loans become due on only the amount received. If the loan is repaid after a couple of years, then Zakaat for the past years also has to be paid. The best method is to pay Zakaat on the full amount outstanding each year.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 28 No 07
- PDF page
- 5
Appears under WITR IN THE HARAMAIN (approximate).