The amount set aside as security for renting housing
Machine translationRead the Arabic original
The second question of Fatwa No. ( 16585 )
Q2: I am an employee in government housing, and we pay a security deposit (5,000 riyals) when taking possession of the housing. When a person wishes to vacate the housing, the amount is returned to him. Please note that this authority deposits the amount in the American bank. The question is: Is zakah obligatory on this security deposit, and is it permissible for these officials to place the amount, which totals more than one million riyals, in the aforementioned bank? Please note that the owners of these amounts do not agree to having them placed in this bank.
A2: Depositing the aforementioned amounts in banks is permissible if the intention is merely for safekeeping, due to dire necessity. However, if the intention is usurious investment, it is not permissible. In any case, it is obligatory for the owner of the amount to pay zakah on it if a lunar year of possession has passed and it reaches the minimum threshold for zakah. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: I am an employee in government housing, and we pay a security deposit (5,000 riyals) when taking possession of the housing. When a person wishes to vacate the housing, the amount is returned to him. Please note that this authority deposits the amount in the American bank. The question is: Is zakah obligatory on this security deposit, and is it permissible for these officials to place the amount, which totals more than one million riyals, in the aforementioned bank? Please note that the owners of these amounts do not agree to having them placed in this bank.
A2: Depositing the aforementioned amounts in banks is permissible if the intention is merely for safekeeping, due to dire necessity. However, if the intention is usurious investment, it is not permissible. In any case, it is obligatory for the owner of the amount to pay zakah on it if a lunar year of possession has passed and it reaches the minimum threshold for zakah. 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.