Is zakat obligatory on a sum of money collected from a "jam'iyyah" (cooperative society) two months before the completion of the hawl (one lunar year), while seven installments have not yet been paid? And are the remaining installments after the completion of the hawl considered debts to be deducted from the zakatable amount?

Zakat on the funds of employee associations has two scenarios:

1. First Scenario: The participating employee possesses wealth of the same type as the association's funds. In this case, the installments paid are considered part of his wealth, and he pays Zakat on them along with his other wealth when Zakat becomes due. If he has already received the association's funds, the remaining installments are deducted as a debt, and he pays Zakat on the remainder. If he has not yet received them, he pays Zakat on the paid installments as a debt owed by a solvent debtor. The installments that have not yet been paid are not counted.

2. Second Scenario: The employee does not possess wealth of the same type as the association's funds. In this case, the Hawl (one lunar year) for the association's funds begins for him when the installments he has paid reach the nisab (minimum taxable amount). If the Hawl passes: If he has already received the association's funds, the remaining installments are deducted, and he pays Zakat on the remainder if it reaches the nisab. If he has not yet received them, he only pays Zakat on the installments he has paid, considering them as a debt owed by a solvent debtor, if they reach the nisab.

Based on this, the money mentioned in the question is not subject to Zakat now unless it is combined with other wealth of the same type, because a Hawl has not passed on it while it has reached the nisab.