One who lent money to a man who is unable to repay it.
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Question:
If one lends money to a man who is unable to repay the debt, is it permissible for the lender to forgive him and count it as zakat on his wealth? It is known that the man who took the loan is unable to repay the debt.
Answer:
Answer: No, this is not permissible, because he did not intend it as zakat when he gave it; he intended it as a loan, so the loan cannot be converted into zakat. This also involves accusing him of having made it zakat only when he despaired of repayment. This is not permissible. Therefore, the debt should not be treated as zakat. If the debtor is in financial difficulty, the lender should forgive the debt as a favor to him.
If one lends money to a man who is unable to repay the debt, is it permissible for the lender to forgive him and count it as zakat on his wealth? It is known that the man who took the loan is unable to repay the debt.
Answer:
Answer: No, this is not permissible, because he did not intend it as zakat when he gave it; he intended it as a loan, so the loan cannot be converted into zakat. This also involves accusing him of having made it zakat only when he despaired of repayment. This is not permissible. Therefore, the debt should not be treated as zakat. If the debtor is in financial difficulty, the lender should forgive the debt as a favor to him.
Source
www.alfawzan.af.org.sa
The Arabic text is copied verbatim from the original source, without any edits.