The Ruling on Purifying Saved Wealth
Machine translationRead the Arabic original
Q: If a Muslim saves an amount of money, how is the calculation of its zakah done at the end of the year?
A: A Muslim purifies everything he owns of currency or trade goods once its lunar year of possession has completed. So, what he owned in Ramadan, he purifies in Ramadan; what he owned in Sha'ban from his salary or other currency or trade goods, he purifies in Sha'ban; what he owned in Shawwal, he purifies in Shawwal; and what he owned in Dhul-Hijjah, he purifies in Dhul-Hijjah, and so on. Every asset from the aforementioned types of wealth, once its year is completed, he purifies it at the end of the lunar year.
If he wishes to hasten the zakah before the completion of the lunar year for a legitimate Shari'ah interest, there is nothing wrong with it, and he has a great reward for that. However, it is not obligatory for him to pay it out except after the completion of the lunar year.
A: A Muslim purifies everything he owns of currency or trade goods once its lunar year of possession has completed. So, what he owned in Ramadan, he purifies in Ramadan; what he owned in Sha'ban from his salary or other currency or trade goods, he purifies in Sha'ban; what he owned in Shawwal, he purifies in Shawwal; and what he owned in Dhul-Hijjah, he purifies in Dhul-Hijjah, and so on. Every asset from the aforementioned types of wealth, once its year is completed, he purifies it at the end of the lunar year.
If he wishes to hasten the zakah before the completion of the lunar year for a legitimate Shari'ah interest, there is nothing wrong with it, and he has a great reward for that. However, it is not obligatory for him to pay it out except after the completion of the lunar year.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.