Is there zakah due on the money saved for future purchases?

26 Sep 2020 -

Is there zakah due on the money saved for future purchases? QUESTION: Please advice me. I am trying to save to buy a house in the future. I was going to put 20k away for it. Is it obligatory to give Zakaat on it? ANSWER: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Yes, it is necessary to pay zakah on the £20,000 [on your zakah due date as long as you a sahib-e-nisab – having owned nisab equivalent for a year]. [1] And Allah knows best Abu Bakr Seedat Concurred by: Hanif Patel Muadh Chati Asmar Akram Approved by: Mufti Siraj Sitponi Falahi