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672 Do we need to pay Zakat on Child Benefit which is going towards savings for your children? This money will be built up for the children when they grow up.
If this money is put aside purely for the child’s sake and it is considered as theirs, then there is no Zakah on it, because children do not need to pay Zakah. When they reach the age of maturity and a year passes on this saving, then the money will be Zakatable.

(Answered by: Alims at Islamic Centre, Leicester, UK.)
Category (Zakat)