Maldives Inland Revenue Authority (MIRA) has collected USD3.45 million as Zakat-al-Mal by the end of July which is an increase of 35% compared to USD 2.54 million received as Zakat-al-Mal during July 2021.
The Maldives received USD267,000 as Zakat-al-Mal in July this year which is an increase of 45.8% compared to USD182,000 received as Zakat-al-Mal during the same period last year, according to the latest figures released by the MIRA.
Ministry of Islamic Affairs changed the Nisab for Zakat al-Maal to USD469. Nisab is the minimum amount of wealth that must be owned by a person before he or she is obligated for Zakat al-Maal. The ministry stated the change was implemented on March 17. Previously, the rate of Zakat al-Maal was USD445.
A record USD5.5 million was received in 2021 as Zakat al-Maal. The Islamic ministry revealed the USD5.5 million received as Zakat al-Mal 2021 was the highest amount collected as Zakat al-Mal in a single year which is also a significant increase compared to the USD3 million collected as Zakat al-Maal during 2020. The rate of Zakat al-Maal is being changed due to the change in the price of gold and silver in the world market.
Zakat al-Maal is a part of the wealth and property that Muslims must pay annually, to help the poor of their community. Zakat al-Maal is levied on specific assets only, identified by Islamic Law as assets having the potential for growth. Any man or woman who meets the minimum requirements of wealth must pay their share of Zakat al-Maal. The Nisab, or the minimum amount that a Muslim must have before being obliged to give Zakat is decided by the Islamic ministry on an annual basis. The minimum amount for Zakat al-Mal in the Maldives this year is USD469.
The Islamic ministry said a total of 8,959 people are listed in the register of poor.