Maldives Inland Revenue Authority (MIRA) has collected USD5.4 million as Zakat al-Mal as of November.
The statistics show that the amount is a USD136,000 increase compared to the USD5.3 million collected in the same period last year. In addition, USD460,000 was collected as Zakat al-Mal in November this year, which is higher compared to the USD318,000 collected in November last year. The statistics also show that the highest amount collected as Zakat al-Mal this year was USD1.5 million in April.
MIRA has been collecting Zakat al-Mal since 2016 while the Ministry of Islamic Affairs continues to collect Zakat al-Fitr. MIRA collected USD6 million as Zakat al-Mal last year.
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 person who meets the minimum amount of wealth (Nisab) must pay their share of Zakat al-Mal. The current Nisab for Zakat al-Mal is USD464.