Is Zakat obligatory upon the owner of the saved money or upon the one with whom it is saved?

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 It must be withdrawn, and its interest disposed of by spending it on public welfare.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 Zakat amount is 2.5% if the money reaches the nisab and a full year has passed over it, and the owner of the money is responsible for its Zakat.