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Do I pay zakat on money saved for children’s education?

Answered as per Hanafi Fiqh by ShariahBoard.org

asslmau alikum

If we have money saved for only kids education, do we still have to give Zakat on that money too. Or no. 

 

بسم اللہ الرحمن الرحیم

الجواب وباللہ التوفیق

a. Zakat is obligatory on the saved amount if it is equal to the “Nisab” of Zakat.

b. If the saved amount is less than the “Nisaab” but when added to other property/wealth, the combined amount becomes equal to “Nisaab”, then Zakat will become obligatory on the saved amount along with other property/wealth.

فقط واللہ اعلم بالصواب

Answered on: 04 September 2021 | 26 Muharram 1443
Answer By: Mufti Mohammed Ataur Rahman Sajid
Checked By: Mufti Mohammed Navalur Rahman

Original Source Link

This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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