He borrowed one hundred thousand and is paying it off in installments; is zakah due on it?

The questioner : Peace be upon you.

The Shaykh : Peace be upon you.

The questioner : I borrowed one hundred thousand riyals. I took a loan of one hundred thousand riyals and put this hundred thousand into trade. I know that I am paying off this hundred thousand monthly, five thousand riyals every month. So sometimes the profits from this hundred thousand come in. Do I have to pay zakah on the hundred thousand, knowing that I am paying off this hundred thousand in installments?

The Shaykh : You owe zakah.

The questioner : There is no zakah on it?

The Shaykh : No, there is zakah on it. You have to pay zakah. How? You have to pay zakah.

The questioner : I pay zakah on the hundred thousand.

The Shaykh : For example.

The questioner : Even if I pay it off in monthly installments.

The Shaykh : Yes, my brother, you made a mistake.

The questioner : How?

The Shaykh : You made a mistake. To borrow one hundred thousand when you do not have the means to repay it.

The questioner : I did not have the intention to trade with it at first.

The Shaykh : This is a mistake. This is a mistake on my part.

The questioner : So I intend now to pay five thousand riyals every month.

The Shaykh : In any case, you owe zakah.

The questioner : On the hundred thousand.

The Shaykh : Okay, I, I, I, I, I swear an oath.

The questioner : Is there no zakah on the remaining amount and the profits that come to me?

The Shaykh : There is zakah on it.

The questioner : On the profits and the remaining amount.

The Shaykh : Yes, yes.

The questioner : May Allah reward you, Shaykh. Peace be upon you.