20 Dhul-Qa'dah 1440

A sister has taken a loan from the bank by keeping her gold jewelry as a mortgage. Does she has to pay zakah on this mortgaged gold?

By Admin
In Riba
Apr 22nd, 2019
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ANSWER:

It is prohibited to take interest based loan from a bank.

The gold and silver kept with the bank as mortgage is still zakatable.

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