Minister of Islamic Affairs Ahmed Zahir has revealed that a bill has been sent to the Attorney General’s Office (AGO) to improve the payment policy for Zakat al-Mal.
Speaking at the Parliament, Minister Zahir said that the payment of Zakat al-Mal is optional in the Maldives and that the government has no policy of forcibly collecting Zakat from individuals. He also said that the ministry has drafted a bill on improving the current Zakat al-Mal payment policy and expressed confidence that it will soon be submitted to the Parliament.
Zakat al-Mal is a 2.5% wealth and property tax that Muslims must pay annually to help the poor of their community. Zakat is levied on specific assets only, identified by Islamic Law as assets having the potential for growth. Muslims that meet the minimum requirement of wealth must pay their share of Zakat al-Mal.
Nisab is the minimum amount of wealth that must be owned by a person before a person is obligated for Zakat al-Mal. The government set the Nisab to USD458 in January and collected USD6 million as Zakat-al-Mal in 2022.