Is zakat due on a borrowed amount of money that has been held for a full year (hawl) and used to complete the construction of a house, and is zakat due on the building that is still a skeletal structure?
is obligatory on wealth that is fully owned, provided a year has passed over it (hawl) and it reaches the
, whether it is intended for building a house or not. If the owner of the wealth is in debt, the
majority of scholars hold that debt can reduce or nullify zakat on inward wealth if the debt
encompasses the wealth or reduces it below the nisab. Accordingly, zakat becomes obligatory if a
year has passed over the borrowed amount and it reaches the nisab after deducting the debt owed
by the owner of the wealth; otherwise, it is not obligatory. As for the building itself, zakat is not
obligatory on it unless it is prepared for trade and sale.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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