Zakat is due on wealth held for one lunar year that meets nisab. Bank savings in Korea are subject to zakat if nisab is reached. Calculate at 2.5% and distribute to eligible recipients.
Question
Is zakat due on bank savings in Korea?
HanafiAnswer
References
QURAN
إِنَّمَا الصَّدَقَاتُ لِلْفُقَرَاءِ
Surah At-Tawbah 9:60 — categories of zakat
HADITH
Sahih Bukhari 1395 — zakat on wealth
Grade: Sahih
This is general guidance; consult a local scholar for specific cases.
