3 Jumaadal Oola 1448 AH | ٣ جمادى الأولى ١٤٤٨ هـ | Wednesday, 14 October 2026 · Jamaica time

Debt Equals Savings

20 Dhul Qa'dah 1435 | 15 September 2014

Shortened Question

I have accumulated savings for over one lunar year which is in excess of the Zakat Nisab , but is equivalent to my outstanding debt. Is Zakat payable on this savings?

Question

If one has savings for over one lunar year which is in excess of the Zakat Nisab, but is approximately equal to one’s outstanding debt, will Zakat be due on this savings?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

If one’s total debt for the present year is deducted from one’s total savings  and only if the excess savings is more than the Zakat Nisab, zakat will be payable on this excess savings.[1] If there is no excess savings, then Zakat is not payable.

And Allah Ta’āla Knows Best

Mufti Saeed Ahmed Golaub

Islamic Solutions

Jamaica

References

[1]: وَهَذَا إذَا كَانَ الدَّيْنُ فِي ذِمَّتِهِ قَبْلَ وُجُوبِ الزَّكَاةِ، فَلَوْ لَحِقَهُ بَعْدَهُ لَمْ تَسْقُطْ الزَّكَاةُ لِأَنَّهَا ثَبَتَتْ فِي ذِمَّتِهِ فَلَا يُسْقِطُهَا مَا لَحِقَ مِنْ الدَّيْنِ بَعْدَ ثُبُوتِهَا جَوْهَرَةٌ-  الدر المختار وحاشية ابن عابدين (رد المحتار) (2 / 260)

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