• Prayers & Duties >> Zakat & Charity

    Question ID: 41343Country: United Kingdom

    Title: Zakat on mortgage money

    Question: If a person has taken mortgage money from a bank and it is in his possession does he have to give zakah on it.

    Answer ID: 41343

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1459/1081/D=1433) If you mean gold and silver and it is in his possession then in this case he will have to pay zakah of the rest of the amount after deducting the amount equal to loan. And if it is business loan then only the amount equal to the instalments which has to be paid during one year shall be deducted.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India