Zakah on charity funds

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A: If some people save money to spend it in charity and none of them gets any of the money, then there is no Zakah due on it, because it is no longer owned by them as they have dedicated it for charitable purposes.As for the amount of Zakah due on the 1,000 Riyals, it is 2.5%, i.e. 25 Riyals, as the ruling on paying Zakah on paper money is like that on gold and silver.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.