Zakat Fund Spent MVR 45.9 Million on Medical Treatment in 2022 and 2023
Zakat Fund spent MVR 45.9 million on medical treatment for low-income people in 2022–2023 | Photo: Islamic Ministry
The Zakat Fund spent MVR 45.9 million on medical treatment for low-income individuals in 2022 and 2023, according to newly released audited financial statements.
The Auditor General’s Office announced last Wednesday that audits for the Zakat Fund for both years had been completed. The audit for 2022 found that expenditure was carried out in line with the objectives of the fund and in compliance with the approved budget, the State Finance Act, State Finance Regulations and the Zakat Fund Trust Statement.
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The audits showed that the fund received MVR 17 million as Fitr Zakat in 2022, in addition to MVR 182 million collected as property zakat. The fund’s balance stood at MVR 159 million at the beginning of 2022 and increased to MVR 186 million by the end of the year. With additional collections in 2023, the balance rose further to MVR 204 million by the end of that year.
In terms of assistance provided, MVR 7.68 million in Fitr Zakat was distributed to the poor in 2022, increasing to MVR 9.01 million in 2023. Disbursements from property zakat amounted to MVR 26.87 million in 2022 and MVR 26.89 million in 2023, bringing total property zakat distributions over the two-year period to MVR 53.8 million.
From property zakat funds, MVR 21.4 million was spent on medical treatment for the poor in 2022, while MVR 24.5 million was spent for the same purpose in 2023, totalling MVR 45.9 million. A further MVR 381,237 was provided to individuals facing special circumstances during the two years.
The Zakat Fund provides assistance for medical treatment, hospital expenses, accommodation, meals and travel for patients and their caretakers. It also supports the purchase of medical equipment or other items recommended by doctors.
A significant number of people in the Maldives depend on financial assistance to meet healthcare costs, while the state health insurance scheme incurs substantial expenditure each year. International financial institutions have repeatedly raised concerns over the long-term sustainability of the system, and a recent audit of Aasandha has also recommended reforms.
Parliament passed a new Zakat Bill last month to strengthen the collection, management and distribution of Zakat funds and assets. The legislation was ratified by President Dr Mohamed Muizzu on Tuesday.
Under the new law, the Zakat Fund will be maintained in a separate account at the Maldives Monetary Authority, as designated by the Ministry of Finance.
