Is zakat obligatory on money that has been saved for 18 months, with withdrawals and deposits made from it, and then a piece of land and a car were purchased with it, and what is its amount?
becomes obligatory on money when it reaches the (minimum threshold) and a full lunar year (hawl) has passed on it. The nisab for banknotes is the equivalent of 85 grams of gold or 595 grams of silver. The amount of Zakat payable is one-quarter of one-tenth (2.5%). If Zakat becomes obligatory but is not paid, it remains a debt upon one's conscience and is not waived by purchasing a car or land with that money. The amount of money must be determined, and Zakat must be paid on it. Caution should be exercised in estimation when precise determination is difficult. There is no Zakat on a car or land if they are for personal use and not for trade.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
- 92990
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
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