Zakah on money in the presence of bank debt
Machine translationRead the Arabic original
Question:
A man has a sum of money for which a lunar year has passed, and he has a debt to the banks. For example, he owns one hundred thousand, and he has a debt of eighty thousand. Does he have to pay zakah on this money, or does he pay zakah on what remains after the debt?
Answer:
As long as the money is in his possession, it is obligatory for him to pay its zakah once the lunar year has completed. If he pays off the debt before the year is up, there is no zakah on it. Yes.
A man has a sum of money for which a lunar year has passed, and he has a debt to the banks. For example, he owns one hundred thousand, and he has a debt of eighty thousand. Does he have to pay zakah on this money, or does he pay zakah on what remains after the debt?
Answer:
As long as the money is in his possession, it is obligatory for him to pay its zakah once the lunar year has completed. If he pays off the debt before the year is up, there is no zakah on it. Yes.
Source
لقاء الجمعة في جامع والدة خادم الحرمين الشرفين بمدينة الطائف 28-11-1439هـ. — alfawzan.live (17:31)
The Arabic text is a machine transcription of the audio recording.