The Majlis Archive

Finance - Banking - Business The Majlis Vol 27 No 05, p.8

A loan was given to a person who is now unable to repay it.

Question

A loan was given to a person who is now unable to repay it. Can this loan be offset with the intention of it being a Zakaat payment by the creditor?

Answer

The debt cannot be offset with the intention of it being a Zakaat payment. The Zakaat should be given to the debtor. After he takes possession of the money, he should pay the debt.

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8

Appears under ZAKAAT ON ANIMALS (approximate).

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