Zakāt on Debt Receivables

Question: 

A father sold 50% of his business to his son for R10 Million, how will they discharge his zakat?

Clarifications

1. The deal took place before the father’s zakat date
2. The son agreed to pay (دين قوي)

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-Salāmu ʿAlaykum Wa-Raḥmatullāhi Wa-Barakātuh

In the enquired situation, the full sum will be added to his (father) zakātable assets, and zakāh is paid on the total. [1]

And Allah Taʿāla Knows Best.

Baba Abu Bakr

Student –Darul Iftaa

Accra, Ghana

Checked and Approved by

Mufti Muhammad Zakariyya Desai.