Dear scholars, As-Salamu `alaykum. I had lent an amount of money to a relative years ago. Now, I know that he is not in position to repay me. Can I transform the amount of debt into Zakah, and tell my relative that I have converted the debt into Zakah, and he does not have to repay me. Please guide me. May Allah showers His Blessings on all Muslims.
I would like to know whether borrowing money from banks to do business is halal or not?