May Allah bless you. What is the difference between a loan and a debt?

"Debt" is a broader term than "loan". A loan is one type of indebtedness, and debt can arise from a loan, a sale, or other transactions. The primary objective of a loan, in the sense of lending, is otherworldly reward.

Shaykh Abd al-Kareem al-Khudayr clarified the difference between them: - A loan (qardh): Giving money to someone in need without interest, and originally it has no specified term. - A debt (dayn): It must have a specified term, and often involves a benefit for the seller.

Allah (the Most High) says: {O you who have believed, when you contract a debt for a specified term, write it down.}

According to the majority of scholars, a loan cannot be postponed. However, the Malikis and Shaykh al-Islam view its acceptance of postponement.

In the case of debt, its owner benefits worldly, whereas in the case of a loan, there is no worldly benefit, although there is reward and recompense from Allah.