Is zakah obligatory on pledged wealth, and is there zakah in a loan?
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The questioner : He asks: Is zakah obligatory on pledged wealth, and is there zakah in a loan?
The Shaykh : Zakah is obligatory on pledged wealth if it is subject to zakah. However, the pledgor must pay it from the pledged item if the pledgee agrees. For example, a man pledges sheep, and you know that livestock is subject to zakah. If he pledges them with a person, zakah is obligatory on them; it is required because a pledge does not invalidate zakah. He pays the zakah from them, but only with the pledgee's permission. As for a loan, we have previously discussed in the chapter on zakah that if the loan is owed by a rich person, zakah is due on it every year. If it is owed by a poor person, there is no zakah on it, even if it remains for ten years, unless he receives it back, in which case he pays zakah on it for one year only.
The Shaykh : Zakah is obligatory on pledged wealth if it is subject to zakah. However, the pledgor must pay it from the pledged item if the pledgee agrees. For example, a man pledges sheep, and you know that livestock is subject to zakah. If he pledges them with a person, zakah is obligatory on them; it is required because a pledge does not invalidate zakah. He pays the zakah from them, but only with the pledgee's permission. As for a loan, we have previously discussed in the chapter on zakah that if the loan is owed by a rich person, zakah is due on it every year. If it is owed by a poor person, there is no zakah on it, even if it remains for ten years, unless he receives it back, in which case he pays zakah on it for one year only.