Zakaat on Previous Years

July, 2011

• 20 July

  Zakaat on Collaterals

  Q: Zaid took a loan from Bakr. Bakr demanded a certain amount of cash and jewelry as collateral for the loan. Zaid paid back the loan after three years. Does Zaid have to pay zakaat on the collateral and jewelry for the previous years? A: Zakaat is not fardh upon …
• 20 July

  Discharging zakaat of the previous years

  Q: What is the Shar’ee ruling regarding a person who did not discharge the zakaat of his jewellery, wealth and stock in trade for many years? How should he discharge the zakaat of the previous years? A: It is compulsory upon one to discharge the zakaat during the year the …