Ministry of Islamic Affairs has announced it has changed the Nisab for Zakat al-Mal to MVR 6396.25
Nisab is the minimum amount of wealth that must be owned by a person before he or she is obligated for Zakat al-Mal. The Nisab for Zakat al-Mal had previously been set in March as MVR 7241.15. However, the Islamic ministry announced the Nisab has been changed to MVR 6396.25, from June 12 onwards.
Maldivians are required to submit Zakat al-Mal to the Maldives Inland Revenue Authority (MIRA). MIRA customers can pay the amount or review the amount to be paid as Zakat al-Mal on the official website.
