Does one have to pay zakat over money deposited in Fixed Deposit account in a bank for a year or more. The deposit is for security reasons as as one fears about cyber thefts. Of course, the interest earned is not utilized for self and is given to poor and needy.
Does one have to pay zakat over money deposited in Fixed Deposit account in a bank for a year or more. The deposit is for security reasons as as one fears about cyber thefts. Of course, the interest earned is not utilized for self and is given to poor and needy.
23Oct
Yes one has to pay zakat on the savings of over a year.
Does one have to pay zakat over money deposited in Fixed Deposit account in a bank for a year or more. The deposit is for security reasons as as one fears about cyber thefts. Of course, the interest earned is not utilized for self and is given to poor and needy.