Dawah24

Question

Is zakat due on bank savings in Korea?

Hanafi

Answer

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.

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.