Zakaat on collaterals

Q: I have a shop, and pay 1200 as rent. I have given some money as security to the landlord. Should I add this security money while calculating nisaab for zakaat? Please reply?

A: Zakaat is not waajib upon wealth kept as a security (collateral). Hence, you do not have to pay zakaat upon that wealth.

And Allah Ta'ala (الله تعالى) knows best.

(فلا زكاة على مكاتب ) لعدم الملك التام ولا في كسب مأذون ولا في مرهون بعد قبضه (شامي 2/263 / فتاوى محمودية 14/82 )

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)