The zakah on a bank loan invested in stocks
Machine translationRead the Arabic original
Question:
We return to our brother Abdullah from al-Ahsa; may Allah keep you safe. Peace be upon you. Peace, mercy, and blessings of Allah be upon you. How is Abu al-Khayr? Welcome. We want Shaykh Salih here. What is the question?
The question is: I have a loan taken from one of the banks, and I put this loan into stocks with me, O Shaykh. I mean monthly, meaning every month I take it from my salary. Is there zakah on it or not? Okay, thank you. Is there another question? No, no. Peace be upon you. You will hear the answer, if Allah wills, on television. Thank you. May Allah reward you. May Allah keep you safe. Please, O Shaykh. What does he say?
He says that he took a loan from the bank and put it into stocks. He says, “I mean this, this, this, this salary; I take this loan from my salary.” He asks, “Is there zakah on it?”
Answer:
First, borrowing from the bank is not permissible because the bank does not lend except with riba (usury or interest). Second, he pays zakah on his wealth if a lunar year has passed and he possesses wealth that reaches the nisab (the minimum threshold for zakah), then he pays zakah on it. Yes.
The presenter:
Yes,
We return to our brother Abdullah from al-Ahsa; may Allah keep you safe. Peace be upon you. Peace, mercy, and blessings of Allah be upon you. How is Abu al-Khayr? Welcome. We want Shaykh Salih here. What is the question?
The question is: I have a loan taken from one of the banks, and I put this loan into stocks with me, O Shaykh. I mean monthly, meaning every month I take it from my salary. Is there zakah on it or not? Okay, thank you. Is there another question? No, no. Peace be upon you. You will hear the answer, if Allah wills, on television. Thank you. May Allah reward you. May Allah keep you safe. Please, O Shaykh. What does he say?
He says that he took a loan from the bank and put it into stocks. He says, “I mean this, this, this, this salary; I take this loan from my salary.” He asks, “Is there zakah on it?”
Answer:
First, borrowing from the bank is not permissible because the bank does not lend except with riba (usury or interest). Second, he pays zakah on his wealth if a lunar year has passed and he possesses wealth that reaches the nisab (the minimum threshold for zakah), then he pays zakah on it. Yes.
The presenter:
Yes,
Source
نور على الدرب - الفوزان - 03/131 — archive.org (23:16)
The Arabic text is a machine transcription of the audio recording.