Saving money after giving its due Zakat

6-6-2007 | IslamWeb

Question:

Is it a sin to save money in islam for the education and the marriage of ur child ,to buy a house and for the retirement? After giving all the zakaat and sadqa due on a person in a year.

Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad  sallallaahu  `alayhi  wa  sallam ( may  Allaah exalt his mention ) is His slave and Messenger.

 

It is permissible for a Muslim to save whatever amount of permissible money he wishes as long as he pays the Zakat on it. Allaah Says (what means): {And those who hoard gold and silver and spend it not in the way of Allaah — give them tidings of a painful punishment.}[Quran 9:34]. This means that if one pays the Zakat on his wealth, he is not sinful for accumulating it. Ibn 'Umar  may  Allaah  be  pleased  with  him said: I do not care, if I owned as much as the mountain of Uhud of gold, as long as I know its amount and I pay Zakat on it, and I spend from it in the obedience of Allaah. Al-'Atheem Abaadi  may  Allaah  have  mercy  upon  him said: "To conclude, what is meant by hoarding gold and silver is preventing the payment of Zakat on it, and it does not refer at all to saving money."

For more benefit on the conditions of Zakat, please refer to Fataawa 85396 and 84335

Allaah Knows best.

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