Is zakat on money obligatory for money tied up in bank bonds with a quarterly return, which cannot be redeemed except after a specified period?

Bonds are clear and forbidden usury (riba) because they are a loan in exchange for interest. Therefore, bonds in their general form are not permissible, as they are a loan with explicit interest. Those who deal with them must repent to Allah Almighty.

As for their Zakat, Zakat is obligatory on them if they reach the nisab and a year has passed over them, and one-quarter of one-tenth (2.5%) should be given. If the bonds cannot be redeemed except after a period of time, then Zakat is not waived for them, but it should be paid for all past years when they are redeemed.