Is Zakat obligatory on an amount of 70,000 dinars deposited in the bank, knowing that it is a loan obtained through Murabaha (Tawarruq) for purchasing a house, and the debt owed is greater than the available amount?

The fatwa states that debt prevents the obligation of zakat on internal assets such as gold, silver, currency, and trade goods. This is the view of the majority of scholars. Therefore, if you do not have any other zakatable wealth besides the aforementioned amount to pay off the debt, then no zakat is due on that amount. However, if you have surplus wealth beyond your basic needs, consider it offsetting the debt and pay zakat on the entire amount.

There is no harm in the deposit and its variable profits if it is with an Islamic bank that adheres to Sharia guidelines. Zakat is obligatory on the balances of investment accounts and their profits if the conditions for zakat are met. However, if you have nothing to offset the debt except the deposit and its profits, then no zakat is due on it.