The Ruling on the Zakah of the Funds of Charitable Trusts
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Q: We have a student fund at King Saud University. It is a financial mechanism funded by the university and by deducting a small portion of the students' stipends. Through this fund, needy students are assisted. Is zakah due on the amounts present in the fund?
A: There is no zakah due on the funds of the aforementioned fund or similar ones, because it is money that has no owner; rather, it is designated for charitable purposes, like other endowments for good works.
A: There is no zakah due on the funds of the aforementioned fund or similar ones, because it is money that has no owner; rather, it is designated for charitable purposes, like other endowments for good works.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.