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Az-Zakah on Loaned Wealth
Az-Zakah on Debt
Question :
I have a debt that one of the brothers owes me, so am I obligated to pay its Zakah?
Answer:
If the debt that you are owed is with wealthy people who can pay you your right when you request it, then you must pay its Zakah whenever a year passes on it as if you had it (the money) and they have it like a trust. However, if the person who owes the debt is having difficulties and he cannot pay it to you or he is not having difficulties, but he keeps putting you off and you are not able to take it from him, then the correct view from the opinions of the scholars is that you are not obliged to pay Zakah for it until you receive it from this delayer or person in straitened circumstances. Then, when you receive it and you have it for a year thereafter, you pay the Zakah on it. If you pay Az-Zakah for one year from the previous years that the money was with the person with difficulties or the delayer, then there is no harm in that. Some of the people of knowledge have said this. However, you are only obligated to pay Az-Zakah for the future time that comes after you received the money from the person in hardships or the delayer, and you wait until you have possessed it for a year. Then after a year has passed on it you are obligated to pay Az-Zakah. This is what is preferred.
Az-Zakah on loaned Wealth
Question :
I loaned a sum of money to a person and a year passed without him repaying the loan. Should I pay Az-Zakah on it or should I wait until he repays it, then pay Az-Zakah for the year when I receive it?
Answer:
When the debt or loan is with a wealthy person who is able to pay it and you are able to get it from him whenever All you wish, then you must pay Az-Zakah on it every year, because it is like a trust. It makes no difference whether you left it with him to make things easy on him or because you do not need it. However, if the debt or loan is with one who is in straitened circumstances or who delays payment or who is unable to repay, then the preferred and correct view is that there is no Zakah on this until you receive it. Then, when you receive it, you pay one year's worth of Zakah on it, even if it remained with the debtor for many years. And Allâh knows best.
It is not permissible to drop a Debt and consider it as Az-Zakah
Question :
We have a relative who is poor and needy, so we give him from the Zakah of our wealth every year. Some time ago we gave him a sum of money outside of the time of Zakah, however he has not been able to return it to us until now. Since a number of years have passed since then, our question is this: is it permissible for us to pardon him from paying that sum of money and count it as part of the Zakah that we will pay this year, if Allâh wills?
Answer:
The correct view is that it is not permissible to drop a debt that a debtor owes if one loses hope that he will repay it or he will be late in repaying it, with the intention of considering it part of Az-Zakah. This is because Az-Zakah is wealth that is paid to the poor due to their poverty and needs. However, if the person is given from the Zakah and he returns it to its owners in repaying what he is responsible for, then that is permissible for you, as long as there is no shady intent or favoritism.
Source:
Fatawa Islamiyah, Vol. 3 Pages 185-186
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