Is Zakah due on the money of a minor deposited for him in the bank?

A: It is obligatory upon the Wali (guardian) of the orphan to pay Zakah on the money when it reaches Nisab (the minimum amount on which Zakah is due) or more, and a Hawl (one lunar year calculated from the time a property reaches the minimum amount upon which Zakah is due) passes while it is in his possession. The amount of 2.5% should be paid whether the money is deposited in a bank or in the possession of your father. It should be known that it is not permissible for your father to avail himself anything of this money because it is a trust with him that he must keep. Hence, it is obligatory upon your father to repay the sum of money which he owes to the orphan grandchild and keep it until the child reaches the age of consent and then he must give him the money.If the money is deposited on a monthly basis, it is safer and easier to specify a month of the year to annually pay Zakah on all the child's money.May Allah grant us success. May Peace and Blessings of Allah be upon our Prophet Muhammad, his family and his Companions!