MBJS88
1
We have a family fund within our extended family. The fund is designed to be a collection in case someone in the family requires that money unexpectedly (e.g. sudden death of the main bread-winner).
The rules of the fund are that everyone contributes what they can. The money may only be dispersed amongst family members. Alhamdulillah, nobody in the family currently requires this money. The fund is accumulating and the target is $100,000 USD.
Does contributing to such a fund count as Zakat or Sadaqa? Or should this be treated like a savings account for the family and be separated from one's obligatory donations?