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Monthly Zakat And Loan Repayment
Assalamu Alaykum. My name is qaisar and I’m living in UAE. I have been paying my monthly Zakat since I listen to this Ghamidi sahab that as we are not paying government taxes here so at least 10% of the gross salary we have to pay as Zakat. So I have been paying this since then. But now the new issue is that I took a substantial amount of Loan from a bank, so now I have to pay monthly installment to repay the loan and now I don’t know that whether it’s still mandatory for me to pay the Zakat (i.e 10% of my monthly gross salary) ? I’m not saying that I cannot pay but with this huge repayment installment on monthly basis, it’s difficult for me. Though I still I can pay, but is it still mandatory for me despite the loan?
Reason for loan: I took it to invest in real estate to have some additional source of income for any future risk mitigation.
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Monthly Zakat And Loan Repayment
updated 5 days, 3 hours ago
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Zakat is considered a right that the government may collect. If the government does not impose or collect it, you are not necessarily obligated to pay it through the government. However, if you choose to pay it voluntarily, you will still receive the reward.
If paying Zakat alongside your loan installments creates significant financial difficulty, you may use your conscience and judgment to determine whether you are justified in postponing or not paying Zakat. Zakat applies to a person who is “Ghani”—that is, someone who possesses wealth or resources beyond their essential needs.
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