Money deposited in a bank in a son’s name: on whom is the zakat?

Question

A man’s father deposits money in a government bank in his name; the conditions for depositing and withdrawing the money have already been stated in the previous request for a fatwa (istifta’). The question is this: the father of this man deposited money in his name during his childhood — if zakat is due on it, then on whom?

Answer

In the case asked about, the money is not the property of the child; rather it is the property of the father himself, so zakat is wajib on the father. When the child grows up and takes possession (qabd) of the money, zakat on it will become wajib on him himself after the completion of the year (hawl).

Source: Fatawa Mahmudiyya

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