Is zakah due on money deposited in the bank?
Machine translationRead the Arabic original
Q2: Is zakah due on money deposited in the bank? Knowing that some of it has not reached the lunar year of possession, because I add more money to it every month.
A2: It is obligatory to pay zakah on money deposited in the bank if it reaches the minimum threshold for zakah and a lunar year of possession has passed over it, in which case one pays one-quarter of one-tenth of it. If you add to the balance every month, then whenever a lunar year of possession has passed over the money you added, you add it to the principal amount and pay zakah on it together when its own lunar year of possession from the time of receipt is completed. If you cannot keep track of this, the most cautious course is to pay zakah on all the money, both the previous and the later amounts, to clear your conscience, and to set a specific time for paying your zakah, such as the month of Ramadan, so that you do not become confused about the completion of the lunar year for these different amounts of money received at different times.
A2: It is obligatory to pay zakah on money deposited in the bank if it reaches the minimum threshold for zakah and a lunar year of possession has passed over it, in which case one pays one-quarter of one-tenth of it. If you add to the balance every month, then whenever a lunar year of possession has passed over the money you added, you add it to the principal amount and pay zakah on it together when its own lunar year of possession from the time of receipt is completed. If you cannot keep track of this, the most cautious course is to pay zakah on all the money, both the previous and the later amounts, to clear your conscience, and to set a specific time for paying your zakah, such as the month of Ramadan, so that you do not become confused about the completion of the lunar year for these different amounts of money received at different times.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.