The Zakah on Money in the Bank and Real Estate Purchased for Trade
Machine translationRead the Arabic original
Question:
This is 'Adil. He says: Shaykh, I have a sum of money in the bank, and I pay the zakah on that money at the end of every Gregorian year, that is, in December. I have also purchased real estate for trade. Do I pay the zakah on the money or on this property at the beginning of my ownership, or is the property's value considered the same as the previous money?
Answer:
Yes, if you have money in the bank and you purchase real estate for trade, you pay zakah on all of it when the lunar year is completed. You pay zakah on the money by giving one-fourth of a tenth of it, and you pay zakah on the land by appraising it at its value when the lunar year is completed, then giving one-fourth of a tenth. Yes.
This is 'Adil. He says: Shaykh, I have a sum of money in the bank, and I pay the zakah on that money at the end of every Gregorian year, that is, in December. I have also purchased real estate for trade. Do I pay the zakah on the money or on this property at the beginning of my ownership, or is the property's value considered the same as the previous money?
Answer:
Yes, if you have money in the bank and you purchase real estate for trade, you pay zakah on all of it when the lunar year is completed. You pay zakah on the money by giving one-fourth of a tenth of it, and you pay zakah on the land by appraising it at its value when the lunar year is completed, then giving one-fourth of a tenth. Yes.
Source
نور على الدرب - الفوزان - 03/156 — archive.org (16:40)
The Arabic text is a machine transcription of the audio recording.