The Maldives has collected USD6 million as Zakat-al-Mal by the end of 2022.
According to the latest statistics released by Maldives Inland Revenue Authority (MIRA), Zakat al-Mal collection stood at USD6 million last year. which is a significant increase compared to the USD5.9 collected in 2021. Ministry of Islamic Affairs reduced the Nisab for Zakat al-Mal from USD469 to USD373 in September.
Zakat al-Mal is a part of the wealth and property that Muslims must pay annually, to help the poor of their community. Zakat 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-Mal. Nisab is the minimum amount of wealth that must be owned by a person before he or she is obligated for Zakat al-Maal.
Maldivians are required to submit Zakat al-Mal to MIRA. As such, individuals can pay the amount or review the amount to be paid as Zakat al-Mal on the official website. Maldivians were previously required to submit Zakat al-Mal to the Islamic ministry. However, the government transferred the responsibility of collecting Zakat al-Mal to MIRA in 2016.