Maldives Zakat on Wealth Collections Reach MVR 104.4 Million in August 2026
As the central tax authority in the Maldives, MIRA oversees the collection and administration of Zakat al-Mal funds. | Photo: Envato
State revenue from Zakat on wealth reached MVR 104.4 million by the end of August, marking a 27 per cent increase compared to the same period last year, official figures show.
According to the latest monthly financial report released by the Maldives Inland Revenue Authority (MIRA), cumulative collections of Zakat al-Mal stood at MVR 104,465,702 for the first eight months of the year. During the corresponding period in the previous year, the state collected MVR 82,163,911 under the same category.
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Despite the year-to-date growth, monthly figures for August recorded a minor year-on-year decline. MIRA collected MVR 7 million in Zakat on wealth during August, down from the MVR 8 million recorded in August of the previous year.
Under Islamic law, Zakat on wealth is a mandatory obligation for individuals whose qualifying assets meet or exceed a set minimum threshold (Nisab) and remain in their possession for one full lunar year. Unlike Fitr Zakat, which coincides with the month of Ramadan, individuals may fulfill their Zakat al-Mal obligations at any point during the calendar year.
The Ministry of Islamic Affairs periodically updates the financial threshold to reflect market values. As of 20 August, authorities established the Nisab for Zakat on wealth at MVR 19,266.10.
As the central tax authority in the Maldives, MIRA oversees the collection and administration of Zakat al-Mal funds. The agency provides digital payment portals allowing taxpayers to calculate their obligations and transfer funds online through its official platform.
