Is Zakat obligatory on a man who borrowed from the Real Estate Development Fund to build a residential building, then invested an excess amount from the loan in trade and uses it to pay off bank installments? And does this money belong to him or to the state?
Acquired wealth is the property of its owner and is treated like their other assets. Zakat becomes due on it if it reaches the nisab (minimum taxable amount) and a full hawl (lunar year) passes over it after it is acquired, whether it reaches the nisab by itself or when combined with other assets.
Summarized from the full answer at Ftawy · imported
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- Source platform
- Ftawy
- Original fatwa ID
- 13035
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
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