Question 33: I have deposited money in a bank in order to build an apartment for each of my children when the amount becomes sufficient to cover the construction costs. If the money is not sufficient, due to the high cost of building materials and my moderate income, I will sell the land and divide the money among my children. My question is: Is Zakaah due on the money I have saved for building? Please answer my question and may Allaah reward you for helping me and other Muslims!
Answer: Zakaah is due on any money you have saved for building so long as one lunar year has passed and… read more here.