Ruling on delaying zakaah and investing the wealth
Question

                The annual zakaah on my wealth is a considerable amount (such as 10,000 Egyptian pounds). Previously I have usually given it to the poor or to build a hospital for the poor, etc, but now I am thinking of keeping the value of this zakaah for three or four years in a separate account that brings a suitable annual return in one of the Islamic banks, with the aim of generating a sum that will be suitable for establishing a non-profit centre for da’wah and education using the most modern methods of research and studying in this field for Muslims who begin to have doubts about their religion when they compare it with other religions. Then my annual zakaah will be given to this centre. This is in addition to donations that we hope will be given by other Muslims.

 Is this permissible according to sharee’ah?.
Praise be to Allah.
    We would like to thank you for your protective jealousy 
    concerning your religion and for your concern about the Muslims’ situation, 
    but what you want to do and are asking about is not in accordance with 
    sharee’ah, because when zakaah becomes due, after one year has passed, it 
    must be paid immediately, and it is not permissible to delay it if one is 
    able to pay it. 

    Zakaah is an act of worship and the Muslim must adhere to the 
    rulings on the amount on which zakaah is to be paid, when it is to be paid 
    and the types of wealth on which it must be paid; he does not have the right 
    to delay paying it once the time comes, unless he has an excuse which allows 
    that. 

    The scholars of the Standing Committee were asked: 

    If zakaah is due in Jumaada al-Oola, can we delay it until 
    Ramadaan with no excuse? 

    They replied: 

    It is not permissible to delay paying zakaah after one year 
    has been completed unless there is a legitimate shar’i excuse, such as there 
    being no poor people around at the time when the year is complete, or not 
    being able to get it to them, or because the money is not accessible, etc. 
As for delaying it 
    because of Ramadaan, that is not permissible unless it is only a short 
    period away, such as if the end of the year comes in the second half of 
    Sha’baan; in that case there is nothing wrong with delaying it until 
    Ramadaan. End quote. 

    Fataawa al-Lajnah al-Daa’imah li’l-Buhooth al-‘Ilmiyyah 
    wa’l-Ifta’, 9/398 

    It is not permissible to do business with zakaah wealth for 
    one who is obliged to pay zakaah, or for the institution that takes the 
    zakaah wealth and is entrusted with making sure it reaches the people who 
    are entitled to it. Rather it is obligatory to give it (in the manner 
    prescribed), and their investments should be made with wealth other than 
    zakaah. 

    The scholars of the Standing Committee were asked about a 
    charitable organization that wanted to invest its wealth.  They replied: 
If the money mentioned 
    in the question comes from zakaah, then it must be given to the people who 
    are entitled to it according to sharee’ah when it reaches the charitable 
    organization. But if it is not zakaah, then there is no reason why it should 
    not be used for trade in the interests of the organization, because that 
    will increase the benefits that the charity aims to achieve.  End quote. 

    Fataawa al-Lajnah al-Daa’imah li’l-Buhooth il-‘Ilmiyyah 
    wa’l-Ifta’, 9/403, 404 

    They were also asked: 

    Can a global Islamic charity invest zakaah money that has 
    been placed in bank accounts until they are able to distribute it, when 
    investing it is not going to affect the way it is spent according to 
    sharee’ah, on condition that the investments be made in such a way that it 
    may be accessed easily in case of need, and in investments that have been 
    well studied and are reliable, but we do not say that they are guaranteed so 
    as to avoid anything haraam or doubtful, and on the basis that the charity 
    is not a person or persons representing themselves, rather it is a separate 
    entity, and the people in it are working and doing their best to find out 
    what is best for Islam and the Muslims? 

    They replied: 
It is not permissible 
    for the charity to invest the zakaah money. What should be done is to spend 
    it in the ways prescribed in sharee’ah, after ensuring that the people 
    concerned are entitled to it, because the aim of zakaah is to meet the needs 
    of the poor and pay off the debts of those who are in debt, whereas 
    investment may cause these benefits to be lost or may delay them a great 
    deal for those who are entitled to them. End quote. 

    Fataawa al-Lajnah al-Daa’imah li’l-Buhooth il-‘Ilmiyyah 
    wa’l-Ifta’, 9/454, 455 

    Secondly: 

    With regard to giving zakaah to build a hospital for the poor 
    or some other charitable projects, we have stated in the answer to question 
    no. 39211 that zakaah is to be 
    spent on certain categories as prescribed in sharee’ah. Allaah says 
    (interpretation of the meaning): 

    “As-Sadaqaat (here it means Zakaah) are only for the 
    Fuqaraa’ (poor), and Al‑Masaakeen(the poor) and those 
    employed to collect (the funds); and to attract the hearts of those who have 
    been inclined (towards Islam); and to free the captives; and for those in 
    debt; and for Allaah’s Cause (i.e. for Mujaahidoon — those fighting in a 
    holy battle), and for the wayfarer (a traveller who is cut off from 
    everything); a duty imposed by Allaah. And Allaah is All-Knower, All-Wise”

    [al-Tawbah 9:60]

    So 
    it is not permissible to give zakaah to any categories other than these.

    You 
    have to pay zakaah on time; it is not permissible to delay it when you are 
    able to pay it, or to invest that money, whether in profitable business 
    projects or in da’wah projects.

    With 
    regard to the da’wah project of which you are thinking, you should try to 
    persuade whoever you can of the Muslims to finance it without using zakaah 
    funds.

    May 
    Allaah help us to do that which He loves and which pleases Him.

    And 
    Allaah knows best.