Maldives Zakat House has revised the 'Nisab' applied on Zakat-al-Mal.
Zakat-al-Mal is a religious obligation for all Muslims who meet the necessary criteria of wealth and is a mandatory charitable contribution. Each year, the government decides on a Nisab, the minimum amount that a Muslim must have before being obliged to give Zakat.
The current Nisab has been set at MVR 9,353.40, effective from May 22. Therefore, the Zakat will be required to be paid by those whose personal wealth was above the revised Nisab for one lunar year.
