Nisab of Zakat al-Mal Raised to MVR 11,191.95, Says Gov’t
Maldivian citizen is paying zakat at the collection centre | Photo: Maldives Zakat House
The Nisab of Zakat al-Mal has been raised to MVR 11,191.95. The amount is calculated at a rate of MVR 18.81 per gram of silver.
In the Maldives, the Nisab is determined based on market prices of silver, and changes in silver rates are directly reflected in the amount. The Nisab was previously reduced from MVR 9,240.35 to MVR 8,800 on 23 January this year, before the latest increase.
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Zakat al-Mal is a mandatory charitable contribution required of Muslims who possess wealth above the Nisab threshold for a full year. It is distributed to those in need, as stipulated in Islamic teachings.
This year, Zakat al-Mal was distributed to 2,852 individuals registered on the Ministry of Islamic Affairs’ poverty registry. Each beneficiary received MVR 5,000, marking an increase of MVR 1,000 compared to the MVR 4,000 awarded per person last year.
