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f:1152 -    Zakaat on money in the bank
Country : India,
Name : Ali
Question:     Do we have to give Zakaat on the money kept in the bank as fixed deposit also?
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Answer:     If somebody has 60 gm 755 mg gold or 425 gm 285 mg silver or its equivalent wealth/cash, which is safe from debt and on which a year has passed, then giving its Zakaat is necessary.

If you add your gold, silver and other wealth to the amount you have kept in fixed deposit and that meets the criteria of Zakaat or if the fixed deposit itself meets the criteria, then as soon as 1 year passes on it, Zakaat becomes obligatory (Fardh) on it.

And Allah Most High knows best.

Mufti Syed Ziauddin Naqshbandi Qadri,

[Shaykh ul Fiqh, Jamia Nizamia,
Founder-Director, Abul Hasanaat Islamic Research Center]
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