do i have to pay zakat every year on saved money Sheikh Ibrahem Zidan #islamqa #fatwa #HUDATV

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It doesnt make sense to work hard to save for ur future financial freedom when u need to pay 2.5 % yearly, it will eventually be to a low nisaab amount. Then u might as well not have worked hard and just kept ur savings to the nisaab amount from day 1 becausedue to zakaat, thats what it will eventually be anyway!!!!. The logic behind paying zakaat on the same savings that u already paid on last year literally doesnt make any sense. Paying on the new accumulated savings every year, that i can actually understand!!!

islam