How is Zakat calculated on funds deposited in Banque Misr for Islamic Transactions in the form of certificates that yield a return every three months?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
"Banque Misr is one of the interest-based (riba-based) banks, and it is impermissible to invest money in it. What has been mentioned about its Islamic transactions branch has not been verified for authenticity. If it becomes clear that the funds of this branch intermingle with the bank's interest-based funds, then the money must be withdrawn, and the interest disposed of by giving it to the poor and needy, while retaining only the principal. As for the on capital invested in a permissible manner, it is due on the capital and its profit if a full year has passed, and 2.5% of the total should be given."
Summarized from the full answer at Ftawy · imported
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- 41442
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