Channel: Faith IQ
Zakat is one of the pillars and Islam and is obligatory upon every Muslim. What if a person is experiencing a cash flow problem due to an incident, can this person borrow money to pay Zakat? How would they go about it?
Shaykh Abu Eesa explains.
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Can I borrow money to pay my Zakat now, if I have a cash flow problem?
See, when I look at this question, I'm thinking you're one of two or three people. The first type of person is someone who has no money. But someone owes them money. All right, maybe a friend who has lots of money that is always telling you that they're going to give it to you back, maybe even your neighbor and say that you owe 10,000 pounds. And you know, you're going to get it back. So you're considering it to be your own money. Now, in this scenario here, the reason why people ask this question is because they think you have to raise a cap on that money. And that is an opinion of a number of scholars. But it's essentially especially very prevalent today, because the HANA fees are
the Deobandi scholars of our current time who are the masters of Islamic Finance, they dominate the market narrative. And it's very well held amongst them, that there is a cost to be paid upon debts that are owed to you.
And the differentiate between them and they give a buy on those that are very weak, whether you've got no hope of getting it back, you know, that person the only has never paid anyone any back. So you're about to write it off. It's almost the same thing. And then they would consider that which is a debt which is a strong debt, which is going to come back they will then make you pay zakat upon it. So that's why many people ask this question. In my opinion, I want to make it clear that if you do not have money in your hand, I thought it was called a true spot method. I pay zakat upon every single thing that I have, and nothing on anything I don't have, even if I'm expecting it. So it
doesn't matter that someone else has my money that they keep saying to me that they're giving it back until they give it back I'm not paying Zakat upon it. So if you're in that first scenario, so you've got no money, but you've got money with someone else that they haven't given to you, I'm not paying Zakat upon that I'm not going to pay zakat upon that if I received the money, like the day before I am meant to do my Zakat, I'm going to pay money up on it. If I have 20,000 pounds in my account, and it all disappears, the day before payments occurred. I'm not paying Zakat upon anything, everything that's there on this account day, this is my easy approach to his account. This
is called the true spot method. And everyone can apply that not have to worry about what you owe to others, or what's owed to you. You just deal with it yourself. So that's the first type of person. But the majority people that fall into this category are our sisters, those women who have lots of gold jewelry, okay. And I'm just going to assume the opinion of the Hanafi scholars and some of the contemporary scholars that there is a cat upon gold even though I don't personally follow follow that as a category gold jewelry, I mean, but let's just assume that you have to pay zakat upon that so you have these ladies, I have lots of young atolla and salvini, you know, thinking of gold, and
they've got no cash. So what do they do? And this is also similar to the businessman who has lots of stock and lots of great items. But he has no liquid cash, he has no liquid assets, and he can't pay either. What do they do? So this caller said, All right, then you should sell sell it and sell enough then to then pay. Now that's a modern issue, because back in the day, you don't it wasn't it wasn't paid in cash, the car was paid from what it is that you have. So if you had food and you pay from food, and if you have stock then or
cows, cats or whatever, then you play up from from that, you know, one cattle 111 cow, one sheet, whatever it would work out to two and a half, two and a half percent. Today, though people pay in cash. So you're going to have to sell, you might turn around, say I don't want to sell because this is something I value this is going to increase in cost. This is an increase in price I want to hold on to it. And that's a fair enough argument. So then you borrow money and it is permissible to answer the question is permissible for you to borrow money. But let's say that you can't borrow any money and you're not able to get hold of any cash to pay you as a card right now on this cold
because yes, you'd need to pay the cash on the on the unit penance account right now in the gold jewelry, you need to pay this account on your business goods and your your your trade stuff. And you know that say for example, June now is the problem, but in December is going to be okay. It's permissible for you to do that as a last case scenario to not pay you as a cat now, and wait until December when you get that cash flow problem sorted, and then you pay but he has the note in December. Now when it comes to paying off the card, let's say that the value of what you have is gone up, you're not going to pay on June value you're going to pay on December value. And on the
contrary, as well, let's say that the value has fallen down. You're not going to pay on December value you're going to pay on June value, whatever the value of that was, you're going to face a cat back then is a backdated xikar basically and then the next time then jr comes around, you're going to pay zakat again, I hope that that's clear in Sharla