I keep my money in the bank, as my monthly salary is deposited directly by my work, and I withdraw it to pay my expenses. I do not know the amount for which one year has passed, so that I can pay zakaah on it. I decided on the first on Ramadaan as the day for paying zakaah, by working out how much is in my bank account, even if the last payment of my monthly salary was deposited a few days before Ramadaan.
I have two questions:
1 – Is what I am doing to work out my zakaah valid?
2 – I recently took a loan from my work to buy a house and I will be paying it off in monthly installments deducted from my salary during the coming year. Should I subtract the outstanding loan from the calculation for zakaah, knowing that I have savings in my bank account? For example, if I have savings of one hundred thousand riyals in the bank when Ramadaan comes, and the outstanding loan that I owe is seventy thousand riyals, what is the correct calculation?.
Praise be to Allaah.
Firstly:
It is not permissible to put money in riba-based banks unless that is essential in order to protect it, so long as that is without interest. See the answers to questions no. 23346, 22392 and 49677.
Secondly:
If one full year has passed since you acquired the nisaab (minimum threshold) then zakaah must be paid immediately, and it is not permissible to delay it beyond that when one is able to pay. A person does not have the choice of selecting a particular month for paying zakaah on his wealth, rather that month should be after one year has passed, unless he is paying it in advance in Ramadaan, before the year has passed, in which case there is nothing wrong with it. But after the year has passed, it is not permissible to delay it until Ramadaan.
See the answer to question no. 26716 and 8400.
Thirdly:
If you pay zakaah on all your wealth, even your monthly salary, this is safer and is the easiest way of paying zakaah on what you have saved of your salary.
See the answer to question no. 26113 and 50801.
Fourthly:
We have already explained that riba (usury) is haraam, and it is haraam with regard to building and buying houses. If that loan is riba-based, then you must hasten to repent and get rid of it, seeking that which is with Allaah and fearing His punishment.
See the answer to question no. 45951, 21914, 22905
Fifthly:
With regard to the zakaah of one who is in debt, the correct scholarly view is that the debt cannot be subtracted from the wealth on which zakaah is due. In the example which you mention, you have to pay zakaah on the full one hundred thousand, and you cannot subtract from it the debt that you owe.
See the answer to question no. 65763, 22449 and 22426.
And Allaah knows best.
Learn Holy Quran because it will be a proof for us muslim on the Day of Judgment.
This is due to the statement of the Messenger: “And the Quran is a proof for you or against you.” [Muslim] so the deputy of every Muslim is to read quran and learn quran with tajweed so one of two things will occur with this proof, the Book of Allah. And this quran education will be in your favor, a proof for us on the Day when we will need every single good deed and learning quran along with doing quran memorization is one of it and to add more spread the quran teaching and spread the kids quran knowledge and listening to quran online and understand the quran tafseer , it will be something standing against us and follow the guidance of or prophet Muhammad peace be upon him, and these good deeds will be a proof against us! Who could be saved from the terrors of that Day if Allah’s own Speech is against him?!?! Think carefully, so reading Arabic Quran and teaching our kids quran qaida with the tafseer of quran and let the kids memorize quran dear Muslim brother or sister, about your position with the reading Quran! Are you neglecting it, contradicting it, being heedless of its orders and prohibitions, are you thinking deeply over it?! Will it be on your side on the Day of Judgment.? So learn quran recitation! O Allah! We ask you, by Your Glorious Speech and the rest of your beautiful Names and Attributes, to make the Quran a proof for us! So the Quran tutor should let his student know about these facts also,
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