Answered by Shaykh Faraz Rabbani
I have calculated my due zakat for this year. Generally, people (many are my poor relatives) always come to me for monetary help almost all the year round. Thats why I am thinking of forming my own zakat fund from which I can distribute money to the poor when they need. My questions are : 1. Is it allowed? If so then do I have to seperate the money physically or is it okay to have the accounts/calculations on paper? 2. Is there any restrictions on the duration I keep this money in my zakat fund ?
Walaikum assalam wa rahmatullahi wa barakatuh,
I pray this finds you in the best of health and spirits.
If done properly, this would be a great act of virtue. It is best to keep the money apart–physically or in a separate account. It is best to make pay out the zakat funds as soon are reasonably possible after collecting–and undue delay (more than a year without disbursing) would be disliked. [ Ibn Abidin, Radd al-Muhtar ]
And Allah alone gives success.
Faraz Rabbani