Back to search
The question

Is Zakat obligatory on an amount of thirty thousand Riyals deposited in the bank's safety deposit box, and how is it calculated with the constantly changing unit price?

Share this answer

Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

is obligatory on this amount if a year has passed over it and it has reached the (the value of 85 grams of gold or 595 grams of silver). The amount of zakat is 2.5%. It is not permissible to deposit money in an interest-based bank except in cases of extreme necessity, with the obligation to dispose of its interest by spending it on the welfare of Muslims.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
76584
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy