How is Zakat to be paid on a sum of (47,000) borrowed from brothers who are unable to repay it except in widely spaced installments, and is Zakat to be paid again on the installments received if a year has passed over them?

The creditor must pay zakat on the debt at the end of each year. It is permissible for him to delay paying zakat until he receives the money, then pay zakat for all the past years. He is obligated to pay zakat on each installment he receives from the debt for the past years, and then pay zakat on it if a year passes while it is in his possession. As for the opinion that zakat is paid on the debt for one year upon its receipt, this is the view of the Malikis. According to this opinion, you must pay zakat on everything you receive from the debt after it reaches the nisab, and everything that remains in your possession from this money must be paid zakat on at the end of each Hijri year.