A:
If the purpose behind depositing the mentioned sums in the bank is to protect them, there is no harm in doing so. On the other hand, if they are intended for usurious investment, this is not permissible. Either way,
it is Wajib (obligatory) for the owner of the money to pay the Zakah due on it if it reaches the Nisab (the minimum amount on which Zakah is due) and a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) has passed on it. May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
Quran
Quran
Quran Reciters
fiqh
Doctrine and Tawhid
Know about Islam
If the Zakah due on...
