Q: I had a question about assets Zakat is eligible on. I am currently saving for a deposit on a house and expect the purchase a house later this year, would Zakat be eligible on the deposit amount or would it be considered as an immediate cost?

A: The money you are saving at the moment is subject to Zakat on your Zakat anniversary date. The money isn’t tied up to any cost at the moment hence it will have to be counted towards the zakatable assets.

And Allah knows best!

Mufti Billal Omarjee