If a debt reaches the nisab and a lunar year has passed over it, both the lender and the borrower pay zakah on it
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The first question of fatwa number ( 20977 )
Q1: I heard that if a debt reaches the nisab and a lunar year has passed over it, it is subject to zakah from both the lender and the borrower . If this is correct, what is the evidence for it?
A1: It is obligatory for a Muslim, whether he is a debtor or a creditor, to pay zakah on his wealth if it reaches the nisab and a lunar year has passed over it, whether this wealth is in his possession or is a debt owed by people, except if the debt is owed by a person who is insolvent or delaying payment, and one does not know whether he will receive it or not; in that case, he pays zakah on it when he receives it and a lunar year has passed over it after receiving it, according to the correct opinion; because before receiving it, he is not in a position to access it. The evidence is the saying of Allah the Exalted: , and the saying of the Prophet (peace and blessings be upon him): Sunan Ibn Majah 1792Hasan (Darussalam) . And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: I heard that if a debt reaches the nisab and a lunar year has passed over it, it is subject to zakah from both the lender and the borrower . If this is correct, what is the evidence for it?
A1: It is obligatory for a Muslim, whether he is a debtor or a creditor, to pay zakah on his wealth if it reaches the nisab and a lunar year has passed over it, whether this wealth is in his possession or is a debt owed by people, except if the debt is owed by a person who is insolvent or delaying payment, and one does not know whether he will receive it or not; in that case, he pays zakah on it when he receives it and a lunar year has passed over it after receiving it, according to the correct opinion; because before receiving it, he is not in a position to access it. The evidence is the saying of Allah the Exalted:
And give the zakah.
وَآتُوا الزَّكَاةَThere is not Zakat on wealth until Hawl (one year) has passed.
لا زكاة في مال حتى يحول عليه الحول
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.