-
Zakat On Fixed Deposit Islamic Bank
Assalamu alaykum Sheikh I have a question regarding zakat. I have deposited my money of 1 crore in an islamic bank so do I have to pay the zakah on the whole amount(Capital amount) or the profit Only (monthly) however i dont have any jobs or business plus if i have to give zakah on the capital amount (1 crore) wont I lose 2.5 lakhs every year?
Thank you
-
1 Reply
-
Zakat On Fixed Deposit Islamic Bank
updated 2 years, 1 month ago
2 Members
·
1
Reply
-
Please see the following thread for details on Zakat on Investment and feel free to post a follow-up question here in case of any confusion:
But if one is genuinely facing a situation where either he feeds his family or pays zakat then Zakat will be considered waived. Please refer to the following thread:
Sponsor Ask Ghamidi
Please sponsor Ask Ghamidi so that we can continue to provide and improve this community platform.
In the last 1779 days, 8,511 registered users have posted 63,006 messages under 18,078 unique topics on Ask Ghamidi.
