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The question

Is zakat obligatory on orphans' money deposited in the bank, which has been held for a full year, knowing that their ages range between 7-14 years, and the amount of zakat for each person is 2200 Riyals?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Zakat is obligatory on the wealth of a minor according to the majority of scholars, and his guardian must disburse it. It becomes obligatory if the share of each of them reaches the nisab (the equivalent of 85 grams of gold). It is not permissible to deposit money in usurious banks. The interest generated from usury is not subject to zakat; rather, it should be given as charity for good causes. Only the principal capital is subject to zakat.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
52000
Imported
Translation status
Source text, unreviewed
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