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Fatwa: Zakat on deposits paid from principal
Sheikh Mahmoud Shalabi, the Secretary of Fatwa at the Egyptian Dar al-Iftaa, confirmed that Zakat on money becomes obligatory at a rate of 2.5% when the Nisab (minimum amount) is reached and one year has passed on the money. It is to be paid from the original amount deposited. In special cases, if the owner of the deposit relies entirely on its profits during their lifetime and has no other sources of income, it is permissible to pay Zakat from the profits at a rate of 10%, taking into account the individual's circumstances. It is always preferable to pay Zakat from the principal amount, but concessions are granted in cases of necessity and hardship.
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