Zakah on public money

Is Zakaah due on state funds and the money of banks and the companies owned by banks?

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad , is His Slave and Messenger.

Zakah is not due on the public money of the state, including its banks and investment companies, since the scholars determined, among the conditions that Zakah is due, that the money should have an owner, which is not true for public money.

Allaah Knows best.