If there is no liquidity for the zakat on money invested in an Islamic speculative partnership (mudarabah), is the zakat deferred until the profit is received after three years? And are the profits subject to zakat along with the principal at a rate of 2.5%, or are only the profits subject to zakat at a rate of 10%? And is zakat paid once or three times for the three years?

The [Zakat] hawl (one-year cycle) for money is not interrupted by its entry into mudarabah (speculative partnership). So, if the Zakat on money was due in Ramadan, and then it was invested in mudarabah (trade goods), the hawl remains in Ramadan, because cash and trade goods are considered of the same category. If mudarabah refers to placing the money in an Islamic bank for investment, and the profit is not precisely known, then Zakat is due on the principal amount, and approximately on the profit. It should be paid upon receipt if anything remains. Zakat is obligatory on the balances of investment accounts and their profits if the conditions for Zakat are met, even if no withdrawal has occurred. The obligatory Zakat is one-quarter of one-tenth (2.5%) annually. If there is no liquidity, the Zakat becomes a debt. If the mudarabah is not in trade goods or investment in an Islamic bank, then the type of investment vehicle must be clarified to determine the Zakat assessment method.