A question regarding the obligation of paying zakat on borrowed money used to purchase gold, and whether it should be calculated if the money is intended for future expenses like buying an apartment for marriage.
[AR_ID:5549]
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1 Answer
Peace be upon you.
Ayatollah Khamenei and Ayatollah Sistani (may Allah protect them):
The amount you borrow does not require zakat because it is not considered profit.
If you purchase something with this money, zakat is not required on it either.
However, if you start paying installments on the loan from profits earned during the year, and the loan is still outstanding, or its equivalent is present and it is not part of your necessary expenses, or if you used the loan as capital for trade, then zakat is required on the amount you have paid from the installments.
Ayatollah Khamenei (may Allah protect him):
In general, zakat on profits must be paid when the zakat year arrives. However, if someone is about to spend it on their needs in the coming days, there is no zakat on it. Similarly, if someone cannot purchase their current needs according to their social status—like a house—at once, or if they are securing future necessities, it is considered part of their current necessary expenses. They can convert their income before the zakat year into their needs, such as building materials and land for a house. In any case, if they cannot purchase their current needs if zakat is paid, they can request a delay from the guardian of zakat or their representative to pay it in installments according to their ability over time and amount.
Ayatollah Sistani (may Allah protect him):
If it is not spent on necessary expenses during the year, zakat is required, even if it is saved for purchasing or building a house.
May you be successful in all good.
Source:
Ayatollah Khamenei (may Allah protect him): Official Website + Special Inquiry
Ayatollah Sistani (may Allah protect him): Official website: 1, 2 + Office of His Eminence Sistani in Lebanon.