Zakah on wealth for one who has a debt
Machine translationRead the Arabic original
Question:
The questioner says: I have a debt of approximately two hundred thousand riyals, and I have a balance of one hundred thousand riyals, and shares worth approximately seven thousand. Do I owe zakah? Knowing that the debt is a tawarruq (a commodity sale used to obtain cash) from the bank, and I am currently paying it off monthly from my salary.
Answer:
The ruling issued now is that the debt does not prevent zakah. You pay zakah on what you own. If the lunar year has passed, you pay zakah on what you have, even if you have a debt. This is the ruling issued now. The second opinion is that the debt is calculated and deducted from your wealth, and you pay zakah on the remainder. This is the position of the school of jurisprudence, but the ruling issued now is that you pay zakah on all your wealth, even if you have a debt. Yes.
The presenter:
May Allah reward you.
The questioner says: I have a debt of approximately two hundred thousand riyals, and I have a balance of one hundred thousand riyals, and shares worth approximately seven thousand. Do I owe zakah? Knowing that the debt is a tawarruq (a commodity sale used to obtain cash) from the bank, and I am currently paying it off monthly from my salary.
Answer:
The ruling issued now is that the debt does not prevent zakah. You pay zakah on what you own. If the lunar year has passed, you pay zakah on what you have, even if you have a debt. This is the ruling issued now. The second opinion is that the debt is calculated and deducted from your wealth, and you pay zakah on the remainder. This is the position of the school of jurisprudence, but the ruling issued now is that you pay zakah on all your wealth, even if you have a debt. Yes.
The presenter:
May Allah reward you.
Source
تفسير الشيخ محمد بن عبدالوهاب، تفسير الإمام محمد بن عبدالوهاب 20-07-1433هـ — alfawzan.live (1:02:17)
The Arabic text is a machine transcription of the audio recording.