Zakah on shared funds in a savings and loan association
Machine translationRead the Arabic original
Question:
In my question, O Shaykh, a man joined a savings and loan association and pooled the money. The money does not increase or decrease. If a lunar year has passed, is zakah obligatory on him? He will receive the full amount after two years, and he knows that he pays six hundred riyals each month?
Answer:
Yes, if the lunar year has passed, the one who pays zakah must purify all the money he has, whether it is cash or goods for sale. Goods he offers for sale, or cash he has, or debts owed to him by people; he counts it all and pays his zakah every year. Yes.
In my question, O Shaykh, a man joined a savings and loan association and pooled the money. The money does not increase or decrease. If a lunar year has passed, is zakah obligatory on him? He will receive the full amount after two years, and he knows that he pays six hundred riyals each month?
Answer:
Yes, if the lunar year has passed, the one who pays zakah must purify all the money he has, whether it is cash or goods for sale. Goods he offers for sale, or cash he has, or debts owed to him by people; he counts it all and pays his zakah every year. Yes.
Source
نعمة الإسلام — alfawzan.live (27:26)
The Arabic text is a machine transcription of the audio recording.