How can I calculate zakat on deposited money in Islamic bank?
A Brief Description of the Question:
One year before, I had some money which was deposited in an Islamic bank. Last year I paid zakat (obligatory alms) on the deposited amount of money. Do I have to pay zakat on same deposited money this year too? If so, do I have to calculate zakat on the initially deposited amount or Inclusive profit shared with me or only for the profit gained by me from deposit?
The Answer:
You must pay alms via the latest total amount of money. So, you have to give alms the fortieth of both the capital money and its profit.
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