How to calculate the zakah on funds in Islamic banks
Machine translationRead the Arabic original
We move on to another topic and another letter. The topic is: From the brother Tala’ al-Abd al-Rahman from the Eastern Region, he says: I have a sum of money that I deposited in an Islamic bank, and it yields me a good profit at the end of every year. Do I pay zakah on the entire working capital, or only on the profit this sum yields? Please inform me, may Allah reward you with good?
Answer: Zakah is due on all of it; the principal and the profit; because the principal is intended for sale, so one pays zakah on this and that, paying zakah on the principal of his wealth and on the profit, and the profit follows the principal even if a lunar year has not passed over it. Yes.
Answer: Zakah is due on all of it; the principal and the profit; because the principal is intended for sale, so one pays zakah on this and that, paying zakah on the principal of his wealth and on the profit, and the profit follows the principal even if a lunar year has not passed over it. Yes.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.
