Nisab for Zakat al-Mal 2022, Increased

The Ministry of Islamic Affairs of the Maldives has increased the Nisab amount for Zakat al-Mal starting Thursday to MVR 7241.15.

In 2021, the amount was MVR 6878.20, and so, it is an MVR 362.95 increase.

IN order to be liable to pay Zakat, one must have wealth that is more or equivalent to the threshold figure, which is termed the Nisab. The Maldives uses the price of Silver in the market to calculate Nisab.

The amount of zakat al-mal is a fourth of a tenth which is 2.5 percent of one’s wealth and can be paid at any time of the year. Zakat al-Mal is collected in the Maldives by Maldives Inland Revenue Authority (MIRA).