Is Zakat obligatory on a sum of money deposited in a bank, knowing that it reaches the Nisab and a Hawl (full lunar year) has passed over it, despite continuous withdrawals and deposits from it?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
is not obligatory on wealth unless it reaches the and a full year (hawl) has passed on it. The nisab is approximately equal to eighty-five grams of pure gold, or five hundred ninety-five grams of pure silver. If the wealth reaches this amount and a full year passes on it, then Zakat is due on it at a rate of 2.5%. It is not permissible to deal with usurious banks. It is obligatory to withdraw money from them and dispose of the usurious interests by spending them on the welfare of Muslims or by giving them as charity to the poor and needy.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/157994
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- Ftawy
- Original fatwa ID
- 157994
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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- Read the full answer on Ftawy