Assalamualaikum Warahmatullahi Wabarakatuh Really need some help on some of the questions I have on Zakat please. I’ll summarise
1. Stoozing. I have a couple of interest free credit cards which I use for my day to day purchases. However, when I get the monthly statement, I only pay the minimum and save the rest in a Halal ISA account (Al Rayan). Example – May 2019 Credit Card statement might be £500 but a minimum of £50. So I’ll pay the £50 and save the £450 into the ISA account. These cards may be 12/18/24 months interest free and when its time to pay it off, I’ll get the money from the ISA account and pay it off. One of my cards need to be cleared by Dec 2019 and the other next year. Just to reiterate, this money is not mine nor am I dealing with anything interest related. Would I need to be pay Zakat on this Stoozing (saved amount)?
2. Money Purchase Pensions. I have about 5 of these accumulated over the years as I’ve moved jobs. First one is prob 20 years old. How would I calculate Zakat on these? I was always under the impression I wouldn’t have to give Zakat till I withdrew the pension in years to come
3. University Fees for my son. My son studies abroad and I pay for his Uni fees as well as all his living expenses, flights etc. The way I manage this is by having a virtual pot and I pay like £1000 into this pot each month. Every time I need to pay him of his Uni fees, rent etc, I take money from this pot. Sometime this pot will have around £10000, other times as little as £2000. I started this 3 years ago and have another 4 years. Would I have to pay Zakat on this? And how would I calculate?
JKL so much in advance. Would really appreciate your detailed advise
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
1. The money that you have saved in your ISA account is still regarded to be your money. However, the £450 that you owe to the credit card company will be regarded as a debt upon you. Therefore, it will be deducted from your total assets when calculating Zakat. 
2. There are many types of pension schemes/funds. In order to determine whether the exact pension scheme is Zakatable or not, kindly forward us the details of the pension scheme you refer to at: [email protected] Ref. Mudassir Benish
3. The money remaining in the pot at the end of your Zakat year will be included in your assets and therefore Zakatable.
And Allah Ta’āla Knows Best
Houston, TX, U.S.A
Checked and Approved by,
Mufti Ebrahim Desai.
كنز الدقائق (ص: 203)
وشرط وجوبها العقل والبلوغ والإسلام والحرّيّة، وملك نصابٍ حوليٍّ فارغٍ عن الدّين وحاجته الأصليّة نامٍ، ولو تقديرًا
مراقي الفلاح شرح نور الإيضاح (ص: 271)
هي تمليك مال مخصوص لشخص مخصوص فرضت على حر مسلم مكلف مالك لنصاب من نقد ولو تبرا أو حلييا أو آنية أو ما يساوي قيمته من عروض تجارة فارغ عن الدين وعن حاجته الأصلية ولو تقديرا
الدر المختار وحاشية ابن عابدين (رد المحتار) (2/ 260)
(قوله فارغ عن دين) بالجر صفة نصاب، وأطلقه فشمل الدين العارض كما يذكره الشارح ويأتي بيانه، وهذا إذا كان الدين في ذمته قبل وجوب الزكاة، فلو لحقه بعده لم تسقط الزكاة لأنها ثبتت في ذمته فلا يسقطها ما لحق من الدين بعد ثبوتها جوهرة
احسن الفتاوى (ج4 ص 260)
فتاوي محمودية (ج 14 ص 37