Is zakat obligatory on the aforementioned investment certificates, and what is its amount, and what is required of one who does not possess its value?

Firstly: Whoever possesses wealth that reaches the nisab (minimum threshold) of 85 grams of gold or 595 grams of silver, zakat becomes obligatory on him, at the rate of one-quarter of one-tenth (2.5%), each time a hawl (full lunar year) passes over it, even if it is saved in a bank. If he neglects his zakat, he is obliged to pay the zakat for the past years.

Secondly: Investment certificates from the National Bank are forbidden, because they are based on riba (interest/usury). Zakat is obligatory only on the lawful principal amount (60,000 pounds), and any increase from riba is unlawful wealth on which zakat is not paid.

Thirdly: Unlawful wealth must be disposed of by giving it to the poor and needy or by placing it in charitable projects. Since the amount was spent on building the house before repentance, there is no need to pay its equivalent. It is permissible to benefit from the house, along with repenting to Allah for the oversight in inquiring about the ruling on these certificates.