News

Property zakat collections rise 30% to USD 2.93 million

Statistics released by the Maldives Inland Revenue Authority (MIRA) show that USD 2.93 million has been collected in property zakat, or Zakat-al-Mal, so far this year.

This represents a 30 per cent increase compared to the USD 2.25 million collected during the same period last year. According to MIRA’s monthly revenue report, USD 1.77 million was collected in March alone, marking a 16.2 per cent rise from the USD 1.53 million recorded in March 2025.

Overall data indicate that MVR 27.37 million and USD 2,982 have been received as property zakat contributions.

The most recent revision to the Nisab threshold took effect on 21 December 2025. The Nisab refers to the minimum level of wealth a Muslim must possess before becoming liable to pay zakat. The Maldives Zakat House stated that the threshold was set at USD 1,263.17, an increase from the previous level of USD 723.98.

The adjustment reflects changes in global market prices of gold and silver, as reported by the Maldives Monetary Authority.

In the Maldives, zakat collection is administered by MIRA. Payments can be made online, and individuals can also check their payable zakat amounts through the authority’s official website.