Is the monthly amount of 12,000 dirhams that the father gives to his uncle from his money deposited in the bank sufficient for zakat?
The value of the is estimated at the price of 85 grams of gold or 595 grams of silver. If wealth reaches the nisab and a full lunar year (hawl) passes, then zakat becomes obligatory on it, at a rate of one-quarter of one-tenth (2.5%). If the bank is usurious (riba-based), it is not permissible to deposit money in it or to benefit from its profits. These profits must be disposed of by spending them on charitable causes. It is permissible to expedite the payment of zakat in monthly installments, provided that the full amount is paid within the hawl. It is not permissible to give zakat to the paternal uncle if his maintenance is obligatory upon the father.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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