Is zakat due on saved cash that exceeds a person's needs and on which a year has passed, or is zakat limited to gold and silver only? And if zakat is due on it, must it be divided equally among the eight categories of zakat recipients, or is it permissible to give it to some of them?

Zakat is obligatory on the banknotes currently in circulation if they reach the nisab and a full year (hawl) has passed on them. Their nisab is equivalent to 85 grams of gold or 595 grams of silver. Zakat due on them is 2.5% (one-quarter of a tenth). It is to be given to the poor, the needy, and those whom Allah has mentioned in the verse regarding the recipients of Zakat. The majority of jurists hold that it is not obligatory to distribute Zakat to all eight categories.