Zakah on currency when it reaches the nisab and a lunar year has passed over it
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The third question of Fatwa No. (19283)
Q3: A man has banknotes worth one thousand naira, and this value is specific to him. Is he obligated to pay zakah on it, and what is the amount of this zakah according to the four schools of jurisprudence?
A3: Zakah is obligatory on this currency if it reaches the nisab and a lunar year has passed over it, by paying out one-quarter of a tenth (two and a half percent). And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q3: A man has banknotes worth one thousand naira, and this value is specific to him. Is he obligated to pay zakah on it, and what is the amount of this zakah according to the four schools of jurisprudence?
A3: Zakah is obligatory on this currency if it reaches the nisab and a lunar year has passed over it, by paying out one-quarter of a tenth (two and a half percent). And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.