Is zakat obligatory on money in the bank that has been there for a year and from which monthly deductions are made to pay household expenses and bills?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is not permissible to deposit money in interest-bearing banks unless there are no Islamic banks available, and commercial insurance is forbidden. is obligatory on money if it reaches the (the equivalent of 595 grams of silver) and a full year has passed over it, even if it is earmarked for expenses. It is not a condition for Zakat to be obligatory that the money be surplus to one's needs.
Summarized from the full answer at Ftawy · imported
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- Ftawy
- Original fatwa ID
- 13634
- Imported
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- Source text, unreviewed
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