How to Pay the Zakah on Car Installments
Machine translationRead the Arabic original
Question:
The questioner says: How do I work in the car installment system? How is the method of paying zakah in it? Note that the amount earned from the installments is not liquidated but rotates every year.
Answer:
My brother, if you have money that reaches the nisab in currency and a lunar year has passed over it, then zakah is obligatory on it, whether it is in your hand or a debt with people, on a single installment or on installments. It is your money, it is your money, so you purify it by giving out one-quarter of a tenth. You calculate what is in your hand and what is with people, and you also value the goods you have for sale by what they are worth. You total everything and give out one-quarter of a tenth, two and a half percent, every year. Yes.
The presenter:
May Allah bless you.
The questioner says: How do I work in the car installment system? How is the method of paying zakah in it? Note that the amount earned from the installments is not liquidated but rotates every year.
Answer:
My brother, if you have money that reaches the nisab in currency and a lunar year has passed over it, then zakah is obligatory on it, whether it is in your hand or a debt with people, on a single installment or on installments. It is your money, it is your money, so you purify it by giving out one-quarter of a tenth. You calculate what is in your hand and what is with people, and you also value the goods you have for sale by what they are worth. You total everything and give out one-quarter of a tenth, two and a half percent, every year. Yes.
The presenter:
May Allah bless you.
Source
لقاء مفتوح بالطائف 20-07-1435هـ — alfawzan.live (14:09)
The Arabic text is a machine transcription of the audio recording.