['Aalim Network QR] Khums when in Debt

[abbas@dircon.co.uk (Abbas Jaffer)]

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|       In the Name of Allah, the Compassionate, the All-Merciful       |\
|  Greeting of Allah be upon Muhammad and the pure members of his House |\
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Salamun Alaykum

The following question was kindly answered by Shaikh Mustafa Jaffer.

Regards

Abbas Jaffer
Acting Moderator - 'Aalim Network

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QUESTION 1:

I have a fixed deposit of x amount, but against this fixed deposit 
Ihave been issued a credit card and overdraft and the balance is only 
about 6000 Dhms. This means that I will not be able to have access to 
the fixed deposit amount UNLESS I have paid off my credit card and 
overdraft. Do I still have to pay Khums on the total amount or do I have 
to pay khums on the amount that is not guaranteed.

Answer:

YOU HAVE TO PAY KHUMS ON THE FULL AMOUNT.
	
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QUESTION 2:

If I have to pay khums on the full amount, then is it okay for me to pay 
off the credit card and overdraft with this money instead of paying 
khums on the money. Will I be doing something wrong ??

Answer:

ABSOLUTELY NOT! ALL OUTSTANDING PAYMENTS CAN BE MADE JUST BEFORE KHUMS
DUE DATE SO AS NOT TO PAY MORE KHUMS....

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QUESTION 3:

Also, I have purchased some certificates which might allow me to 
become a millionaire by draw, but I have to keep these certificates for 
several months in order to make me eligible to win. Do I have to pay 
Khums on this amount ?

Answer:

THESE ARE CONSIDERED AS PART OF YOUR SAVINGS SINCE THEY CAN RECOVER THE
FULL CASH VALUE. IF THE DUE DATE FOR PAYMENT OF KHUMS FALLS WITHIN THAT
SEVERAL MONTHS WAITING, YOU WILL HAVE TO PAY KHUMS ON THAT.

WASSALAAM

MUSTAFA