Zakat on Gold While Having Debts

Answered by Ustadh Tabraze Azam Question: Salam we have 320 grams of gold jewelry but we have long term home loan and car loan which we are paying in instalments. We have also some amount in shares. How can we calculate the zakah? Answer: Wa alaikum assalam wa rahmatullahi wa barakatuh, I pray that you […]

Zakat on Properties and Reaching Ramadan Owing Fasts

Answered by Ustadh Tabraze Azam Question: Assalam alaykum, (1) I have two properties overseas under my name. I have school debt, cash, and no income. I live with my husband and he provides for me, as well as my father. He also has some savings in the bank. How should I/we calculate the zakat for […]

Paying Zakat vs. Paying Off a Debt

Answered by Shaykh Faraz A. Khan Question: I have some jewellery which meets the nisab of zakat. However, I also have a credit line loan. Last year, when I calculated the zakat on jewelry it came out to be around $800.   My credit line loan is $7,000. Am I obligated to give the $800 […]

Zakat & Long-Term Debts

Answered by Sidi Waseem Hussain Question: I have a considerable sum of gold. Unfortunately, I was not earning enough to be able to pay zakat on it. I put aside some of the gold for zakat, and made note of the zakat amounts which I still owed. Once I started earning, I put that money […]