Is zakat obligatory on a sum of money placed as a trust with a person who disposed of it without the owner's permission, and should the owner of the money or the one who disposed of it pay it?
The payer of is obligated to pay zakat on the indebted amount once a year has passed and it has reached the (minimum threshold). Zakat is obligatory upon the owner of the wealth, not the debtor. If the debtor is procrastinating or unable to pay, then zakat is obligatory upon the owner of the wealth for one year only, once the money is received. The zakat rate is 2.5%.
Regarding profits generated from investing money without the owner's permission, scholars have differed on their ruling: - The Hanbalis hold that the profit belongs to the owner of the money. - The Shafi'is and Malikis hold that the profit belongs to the investor because he guaranteed the money. - The Hanafis hold that the profit belongs neither to the owner of the money nor to the investor; rather, it must be given in charity.
As for the increase offered by the debtor, if it is a profit from the money, its ruling is as stated above. If it is not a profit from the money, then it has a different detailed ruling.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/90168
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 90168
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy