Some deny the obligation of zakah on paper currency; what is the ruling on that?
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Question:
Honorable Shaykh, may Allah grant you success, he says: Some deny the obligation of zakah on paper currency, so what is the ruling on that?
Answer:
The ruling on that is that he must be disciplined and prevented from this, and this fatwa must be prevented, because the paper currency has the ruling of gold and silver, because it takes their place. Yes, riba (usury or interest) applies to it, and zakah is obligatory on it. Yes.
Honorable Shaykh, may Allah grant you success, he says: Some deny the obligation of zakah on paper currency, so what is the ruling on that?
Answer:
The ruling on that is that he must be disciplined and prevented from this, and this fatwa must be prevented, because the paper currency has the ruling of gold and silver, because it takes their place. Yes, riba (usury or interest) applies to it, and zakah is obligatory on it. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [977 -3022] هناك من ينكر وجوب الزكاة في الأوراق النقدية فما حكم ذلك؟ - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.