Is there Zakah due on a sum deposited in the Saudi Arabian Monetary Agency?


344

Q: I would like to inform Your Eminence that I have a showroom for both selling and purchasing cars. I only got permission to open the showroom after depositing a sum of twenty thousand Riyals in SAMA (Saudi Arabian Monetary Agency), which I will restore within six years without any increase on the sum. We hope that Your Eminence would explain whether Zakah (obligatory charity) is due on this sum or not.It should be noted that I do not benefit from it, and that I can only receive it after the closure of the showroom, which is unknown to me, i.e., whether this will take place after one or twenty years. If Zakah is due on this sum, should I pay Zakah for the previous years, each year according to its due Zakah, or from now? If there is no Zakah due on it, we hope you would inform us about this. May Allah reward you with the best for benefiting us and all Muslims. A: If the reality is as you mentioned, there is no Zakah due on you regarding the sum you mentioned until receiving it (Part No. 8; Page No. 246


A: If the reality is as you mentioned, there is no Zakah due on you regarding the sum you mentioned until receiving it (Part No. 8; Page No. 246) and you start counting a new Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) from the date of receipt.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.




Tags: