Istifta 14883 — Zakat

Why there is no Zakat on bank accounts and monetary bills?
Answer
There are certain specific things which have obligatory Zakat. As for Mustahab Zakat, it includes everything. Money deposited in bank does not have obligatory Zakat. Rather, Khums is payable on it, if it is not spent for expenses in a complete year.
#zakat_not_due_on_bank_accounts_khums_applies_instead#عدم_وجوب_زکات_بر_حساب_بانکی_خمس_به_جای_آن
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