The Ruling on Borrowing from the Bank and the Zakah of a Debt

Question:
The questioner says: I took a loan from the bank under what is called tawarruq. The amount of the loan and the amount of my salary are nine thousand riyals, and the amount of the loan that the bank deducts from my salary is two thousand nine hundred riyals. Is there zakah on my salary in this case? And if there is zakah on it, how do I pay it?

Answer:
First, borrowing from the bank: the bank does not lend except with riba (usury or interest). How do you borrow from the bank?
It does not lend to you except with an increase. An increase in a loan is riba. However, if by "loan" you mean what they do now, which is tawarruq, or if they sell you a commodity that they own, and they deliver it to you for a deferred price, and you take it and sell it elsewhere, this is what is called a loan; it is called tawarruq. As for the issue of one who has a debt, whether it is a tawarruq debt or otherwise: if he pays it off before the completion of the lunar year, then the one who pays it off owes no zakah; the one who pays it off owes no zakah. But if it remains in your possession and you do not pay it off until the lunar year has passed, then you must pay zakah on it, because it is your property, the lunar year has passed over it, and it reaches the nisab (minimum threshold for zakah).