Maldives Collects $6.8 Million in Zakat al-Mal as Annual Contributions Rise 27%

The Maldives Inland Revenue Authority (MIRA) has collected USD 6.78 million in Zakat al-Mal by the end of August this year, marking a significant increase in religious contributions compared to the previous year. According to MIRA’s monthly financial report for August, the government received USD 454,545 in Zakat al-Mal during the month. While this figure is slightly lower than the USD 519,481 collected in August of last year, the overall year-to-date trend remains strong. During the same period last year, total collections stood at USD 5.33 million, representing a 27 percent increase in total funds gathered for the current year. Zakat al-Mal is a religious obligation for Muslims whose wealth meets the 'nisab' threshold—the minimum amount of assets one must possess before payment becomes mandatory—and remains at that level for one lunar year. As of August 20, the nisab threshold for property zakat was set at USD 1,251.05. These contributions can be made on any day of the calendar year. In the Maldives, the government facilitates the collection of these funds through MIRA. To streamline the process, the tax authority provides online payment options and a dedicated calculator on its website, allowing individuals to determine the exact amount of property zakat they are required to pay based on current thresholds. The rise in total collections reflects a growing trend of utilizing state channels for religious obligations, ensuring that these funds are managed and distributed according to established regulations.