SHAFAQNA (Shia International News Association) – The Grand Ayatollah Sistani answered some questions regarding Zakat. According to Shafaqna the questions and answers are as follows:
Question1: What is the difference between Khums and Zakat?
Answer: Both are obligatory, but Khums is on gains after exception of expenses of the year and Zakat is on cattle, crops, gold and silver.
Question2: Why there is no zakat on bank accounts and monetary bills?
Answer: There are certain specific things which have obligatory Zakat. As for Mustahab Zakat, it includes everything. Money deposited in bank does not have obligatory zakat. Rather, khums is payable on it, if it is not spent for expenses in a complete lunar year.