Zakat Calculation Resulting In Double Obligation
Brother Fahad, ask the question why you are saving the money. I believe if you are saving to buy a house to live in, or saving as emergency funds or for retirement or for your children’s education or for children’s wedding, then ask the question again in this forum. If I am not mistaken, in most of these cases there is no Zakat. Zakat is on extra/spare money. Most of the people in the World save money for exactly the same purpose as above, except a few very rich who just collect wealth.