Is Zakat obligatory upon the owner of the saved money or upon the one with whom it is saved?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If money is invested in a usurious bank, it is not permissible. It must be withdrawn, and its interest disposed of by spending it on public welfare. However, if the investment is in an Islamic bank, then there is no objection to it. The amount is 2.5% if the money reaches the and a full year has passed over it, and the owner of the money is responsible for its Zakat.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/42317
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 42317
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy