I have accumulated a sum of money, and I intend to use this sum to build a house. It may exceed the cost of the house, or it may be less than the cost. Is there
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The questioner : I have accumulated a sum of money by the grace of Allah (Mighty and Majestic), (Glorified and Exalted is He). I intend to use this sum to build a house. It may exceed the cost of the house, or it may be less than the cost. Is there zakah on what I have accumulated?
The Shaykh : Yes. There is zakah on this, as long as it is cash, meaning pounds, dollars, or riyals. The important thing is that as long as it is cash, there is zakah on it, just as there is zakah on gold and silver, even if a person has set it aside to build a house, for marriage, or something similar.
The questioner : This questioner is from Sudan and says, “O honorable Shaykh.”
The Shaykh : Yes. There is zakah on this, as long as it is cash, meaning pounds, dollars, or riyals. The important thing is that as long as it is cash, there is zakah on it, just as there is zakah on gold and silver, even if a person has set it aside to build a house, for marriage, or something similar.
The questioner : This questioner is from Sudan and says, “O honorable Shaykh.”