The striker will not be allowed to take part in the Club World Cup and will be suspended and then sold in the January transfer window after making a gesture during Saturday's clash
After scoring in his side's 3-1 aggregate win over Orlando Pirates, Zaher made a four-finger salute that relates to a protest by supporters of ousted Egyptian president Mohammed Morsi.
The protest led to the deaths of hundreds of people and, while Zaher issued an apology for the gesture, he will now be placed on the transfer list.
A statement on the club's official website also explained that he will be banned from featuring in the Club World Cup in Morocco next month.
"In light of the club's principles, its firm rejection of mixing politics with sports, its adherence to the regulations of Fifa and the player's confession that he had made a mistake and that he would accept any punishment, the club has decided the following," the statement read.
"[The club will be] suspending the player and banning him from next month's Club World Cup, depriving him of the Champions League triumph rewards and putting him up for sale in the January transfer window."