Sacrifice of an animal for business-people

Some business-people take a loan with the plan that when the profits from the business accrue, they will repay it.  When the time for loan repayment comes and if by the grace of Allah Most High, they earn a profit, they repay the loan, otherwise they take another loan and repay off the first loan.  In this manner, the cycle of loan taking and repayment goes on.  In spite of this, they have all necessary things.  They use vehicles and fulfill the needs of the family members.  This kind of businessperson should check in light of the aforementioned clarification whether sacrifice of an animal is Compulsory (Wajib) for them or not.

If they have wealth that meets the necessary criterion and the loan/s that they have to repay are such that on repaying them, their wealth, apart from the basic needs, does not meet the criterion, then sacrifice of animal is not Compulsory (Wajib) for them.  If after repaying the loan/s, their remaining wealth meets the criterion, then it is Compulsory (Wajib) on them.

Author: Mufti Hafidh Syed Ziauddin Naqshbandi Qadri,
Professor, Islamic Law, Jamia Nizamia.