The Maldives Inland Revenue Authority (MIRA) has reported a significant increase in Zakat al-Mal collections, with total contributions reaching USD 5.32 million by the end of August, an 11 percent rise compared with the same period last year. The surge reflects the resilience of the country’s Islamic charitable infrastructure and the impact of recent revisions to the Nisab, the minimum wealth threshold that determines Zakat eligibility.
Zakat al-Mal is a mandatory form of almsgiving under Islamic law. It obliges Muslims to donate a portion of their wealth annually to support those in need, and is widely regarded as a cornerstone of both spiritual purification and social welfare.
MIRA’s financial disclosures show that this year’s collections have outpaced the USD 4.73 million recorded during the same period in 2024. Monthly data reinforce the upward trajectory: in August alone, contributions totalled USD 544,805.19, compared with USD 479,246.28 in the same month last year.
Driving this increase is a recent adjustment to the Nisab for Zakat al-Mal, which took effect on 21 August. In the Maldives, the Nisab is calculated using the market price of silver, a method endorsed by Islamic scholars as the most equitable for low-income communities.
The revised threshold now stands at USD 725.88, based on the value of 595 grams of silver priced at USD 1.22 per gram. This marks a notable rise from the previous figure of USD 600.96. By raising the Nisab, the number of individuals meeting the criteria for Zakat obligations has expanded, contributing to the higher volume of collections.
Oversight of Zakat administration falls to MIRA, which also serves as the state’s tax authority. The agency offers an online portal for individuals to fulfil their Zakat al-Mal obligations and provides a digital calculator to help determine the precise amount payable.