If one gets a loan on jewellery kept in a bank;is zakat to be given on that jewellery? | Sheikh Assim Al Hakeem
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If one gets a loan on jewellery kept in a bank;is zakat to be given on that jewellery?

02 Jun

Assalamu alaikum wa rahmatullahi wa barakatuhu,

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

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

If one gets a loan on jewellery kept in a bank;is zakat to be given on that jewellery?

Zakat | June 2, 2016 6:34 am
Previous

Assalam o Alaikum, I constructed a house in partnership of two friends. It took about three years from purchase of land to completion. I faced a lot of financial hardship during this period and also borrowed money from people. Everything is settled now and we have distributed the profit etc. Is zakat payable on profit only or the capital also? It is only recently that the house is sold.

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If some woman is recently married and has got gold above Nisab, when she should pay zakat on that gold ? Is it either after one year of her possession or in coming Ramadan(when she got married in shaban of same year)?

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