Q: I am a student at university. In possesion I have money that was given to me to cover university expenses. I have around R5000. By the end of the year it will be used up. I would like to know if zakaat is payable on it and wether qurbani is required. I also have a student bank account that doesn't accumulate interest until a year has lapsed. Due to the account being empty after a year, There will be no interest gained or taken, is it permissible. My bursary pays fees late every year and univerity charges me R30 interest. Should I give that R30 as charity, as it is out of my control?
A:
1. The principle of zakaat is that the first day a baaligh and sane Muslim acquires wealth (upon which zakaat is compulsory) which equals the nisaab of zakaat (i.e. after deducting all liabilities and debts, the wealth reaches nisaab or more than the nisaab amount) and the wealth remains with him for an entire lunar year (even though it increased or decreased during the course of the year provided it is not used up completely), then on the same lunar date of the following year zakaat will be waajib on that wealth on condition it equals the nisaab of zakaat. Hence on your zakaat date if you have the amount of nisaab or more, then 2.5% zakaat will be payable on such wealth.
For further details regarding which wealth one has to pay zakaat upon, refer to http://muftionline.co.za/node/29 and http://muftionline.co.za/node/31
2. Qurbaani is compulsory (waajib) upon every baaligh and sane Muslim who is not a musaafir and who possesses wealth which equals the nisaab amount of zakaat during the days of Qurbaani (i.e. he possess the nisaab amount of zakaat or more after deducting all liabilities and debts and after excluding all necessary items of use e.g. house, car, cutlery, clothing, etc). The days of Qurbaani are the 10th, 11th and 12th of Zil Hijjah.
3. If it does not accumulate interest, it is permissible.
4. Accepting or paying interest is haraam and forbidden in Islam. You should ask those who are providing you the bursary to pay the fees in the future before it accumulates interest.
And Allah Ta'ala (الله تعالى) knows best.
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