Question:
Is there zakat on the money given as a qardh hasanah (loan) to someone?
Answer: حامدا ومصليا ومسلما
The Zakat will be paid after it [the loan] has been received. If the Zakat is paid before it is received, then this is also valid. (فتاوى دار العلوم 6:45 بحواله شامي 2:12)
And Allah Ta’ala knows best.
(Hazrat Mufti) Ahmed Khanpuri (May Allah preserve him.)
Mahmoodul Fatawa Vol.2 Pg.29