Is Zakat obligatory on money deposited in a usurious bank that has a newly established Islamic division, and is it permissible to deal with its Murabaha section for cars, knowing that the bank's capital is mixed, and how is Zakat calculated for this money?
It is not permissible to deposit money in interest-based banks except in cases of extreme necessity. If the bank branch adheres to controls in its dealings, there is no harm in dealing with it and depositing money with it, and it does not matter that it is a branch of an interest-based bank. It is necessary to withdraw the money from the original interest-based bank and deposit it in an Islamic branch or an Islamic bank, if available. Usurious interest must be disposed of by spending it on the welfare of Muslims and the poor. is obligatory on the principal amount of money deposited if it reaches the (threshold) and a full year has passed, at a rate of 2.5%. There is no zakat on usurious interest because it is unlawful money; rather, it must be disposed of in charitable ways. As for the profits resulting from depositing in an Islamic branch, zakat is obligatory on them if they reach the nisab and a full year has passed.
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- 108573
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