Zakat al-Mal collected so far this year surpass last year’s total

Revenue collected through Zakat al-Mal as of September this year has exceeded the total amount collected throughout the entirety of the previous year.

According to statistics published by the Maldives Zakat House, MVR 109.6 million was collected between January and September this year. This is MVR 2.8 million higher than the MVR 106.5 million collected in total last year.

The year-to-date collection represents an increase of approximately 2.64 percent compared to last year’s total. The amount collected during the period comprises MVR 108.7 million and USD 34,021.41.

The milestone has been reached with three months still remaining in the year. As a result, the total annual revenue from Zakat al-Mal is expected to increase further as contributions collected between October and December are added to the year’s figures.

The Maldives Zakat House was established by President Dr. Mohamed Muizzu on December 18, 2023, with the objective of strengthening the country’s national Zakat system. The institution was subsequently granted additional statutory authority under the Zakat Act, which came into effect in January this year.

Operating under the Islamic Ministry, the Maldives Zakat House is mandated to streamline the collection and distribution of Zakat while managing and developing the Zakat Fund in accordance with Shari’ah principles.

The agency is also responsible for maintaining a registry of individuals living in poverty, implementing programs aimed at helping Zakat recipients achieve financial self-sufficiency, and conducting public and business-community awareness initiatives concerning Zakat obligations.

Since its establishment, the Zakat House has introduced convenient online payment platforms to facilitate Zakat contributions and conducted various outreach programs across the islands to promote greater public awareness of the importance of Zakat.