How is the zakat calculated for money invested in bank funds, specifically the Saudi Companies Fund at Al Rajhi Bank?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Money invested in Islamic banks (which operate according to principles) is subject to upon the completion of a hawl (lunar year) and reaching the (minimum threshold). Both the principal and the profit are subject to zakat.
However, if the bank is usurious (Riba-based), it is impermissible to invest money in it. Zakat is obligatory only on the principal, while the interest is not subject to zakat and must be disposed of.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/71467
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- 71467
- Imported
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