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Zakat On Borrowed Money
A year ago Cash was borrowed from a bank for business. It has been already a year and this money has not been used yet. It’s unclear if it will be used in the future. Is zakat wajib on it?
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1 Reply
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Zakat On Borrowed Money
updated 2 years, 1 month ago
2 Members
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Yes, on the due date of your zakat (once a year), all assets in your possession except those that are in personal use are subjected to zakat if you’re above nisab. This includes money in your bank account that you might have borrowed.
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