Islamic Ministry Distributes Zakat Payments, Recipients Get MVR 3,500

MV+ News Desk | July 19, 2023
Photo: Ministry of Islamic Affairs

Ministry of Islamic Affairs, yesterday successfully distributed the Zakat payments for the Islamic year 1444 into the accounts of those individuals who are registered to be its recipients.

The total amount collected as zakat from those registered in the aforementioned register reached MVR 26,799,500 this year.

The Ministry reported that 7,657 people were registered as part of the registrar during the Islamic year 1444. Each registered individual received a sum of MVR 3,500 as zakat, resulting in a cumulative distribution of approximately MVR26.7 million.

The determination of the obligatory rate of zakat in the Maldives falls under the purview of the Ministry of Islamic Affairs, which last adjusted the zakat rate in May of this year. Presently, the applicable rate for zakat stands at MVR7,312.55.

According to the Maldives Inland Revenue Authority (MIRA), the total zakat collection up until May of this year amounted to MVR48.1 million. This represents an increase of 11.4 per cent when compared to the same period during the previous year.

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