Relevant Competitive Tests:
In Pakistan, banks deduct Zakat on the ________ each year.
A. 1st Rajab
B. 15 Shaban
C. 1st RamzanCorrect Answer
D. 2nd Zilhajj
Correct Option: C. 1st Ramzan
Detailed Explanation & Reference:
In Pakistan, banks deduct Zakat from accounts on the first day of Ramadan each year, provided the account balance meets the annual Nisab threshold. This deduction is 2.5% of the amount exceeding the Nisab (minimum wealth) and applies to savings accounts and other similar accounts, but not to current accounts.
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