I have lent some family members some money, for example say £6000. I have not asked for any of this money back and told them to pay me when they can. Do I still have to pay zakat on this even though I have lent it?
When the money is paid back to you then Zakah will have to be paid for all the previous years as well. Hence it is easiest to pay the Zakah on money lent out each year treating that loan as a Zakatable asset and paying the Zakah upon it even though you have not yet received any repayment towards it.
Allah knows best.
Answered by Seekerspath team