What is the amount of zakat due on EGP 200,0 and EGP 60,0 in a bank deposit for children? Is it permissible to pay zakat after receiving the annual murabaha from the bank? Is it permissible to give zakat to a brother who is experiencing difficult financial circumstances?
The amount due for is one-quarter of one-tenth (2.5%). Therefore, for your wealth of two hundred thousand Egyptian pounds, five thousand is due, to be paid after one complete Hijri year. For the wealth you gifted to your children, one thousand five hundred Egyptian pounds is due. Zakat is not obligatory on your children unless the share of one of them reaches the threshold (). You are obligated to pay the Zakat on the wealth of any of them who is a minor. It is not permissible to delay Zakat beyond its due time; rather, it is obligatory to hasten its payment upon the completion of the year. If your brother is poor, it is permissible for you to give him from the Zakat money.
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