This Allied Bank Limited explainer describes Pakistan's Zakat and Ushr Ordinance 1980, under which scheduled banks automatically deduct 2.5 percent zakat from eligible savings and term deposits above the nisab threshold on the first day of Ramadan each year, unless the account holder has filed a CZ-50 declaration of exemption, with the deducted funds transferred to the Central Zakat Account held at the State Bank of Pakistan.
Facts
Assessment
Reliability Tier3
A bank's own compliance explainer of a government ordinance it is legally required to administer, reliable for the mechanical deduction rate, timing and fund destination it must apply correctly, though not an independent scholarly or governmental account, hence the middle tier. Citation
PublisherAllied Bank Limited
URLhttps://www.abl.com/zakat-on-bank-deposits-pakistan/
Source TypeInstitutional
Connections
Associated With
This source names Pakistan directly: "Bank Limited explainer describes Pakistan's Zakat and Ushr Ordinance 1980, under which scheduled banks automatically deduct 2.5 percent zakat from eligible savings and term deposits above the nisab..."
Source Zakat on Bank Deposits in Pakistan: Rates, Nisab and ABL Deductions (Allied Bank Limited)
Claims Backed By This Source (8 claims)
This source backs 8 claims across the atlas. As facts: 6 well-attested. As cited relationships: 1 holds. Plus 1 entities citing it as a general reference with no single fact or relationship attached.
Disposition By Topic
- Sources, 6 claims: 5 well-attested, 1 holds.
- Countries, 2 claims: 1 well-attested, 1 general references.
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