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f:874 - should we have to pay Zakaat on the money in the bank?	Country : Hyderabad, India, Name : Inayath Naqshbandi

Question: Should we pay Zakaat on the money kept in the bank as fixed deposit also? ............................................................................
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 that meets the criteria of Zakaat or if it itself meets the criteria, then as 1 year passes on it, Zakaat becomes obligatory (Fardh) on it. And Allah (Subhanahu Wa Ta'ala) knows best. Mufti Syed Ziauddin Naqshbandi Qadri, [Associate Professor of Islamic Law, Jamia Nizamia, Founder/Director, Abul Hasanaat Islamic Research Center]