Separate institution will increase zakat payments: Islamic Minister

Ministry of Islamic Affairs has said that the establishment of a separate institution for zakat will increase public confidence in the system, thereby increasing zakat payments.

Islamic Minister Mohamed Shaheem Ali Saeed said that the difficulties faced in relation to zakat payments will be resolved with the establishment of the new institution.

He said that the new law on zakat will describe how much people have to pay in zakat based on wealth and assets.

Shaheem expressed hope that the zakat bill can be presented to Parliament when it reconvenes for the new session.

He informed that the bill has been drafted, and sent to the Attorney General’s Office for perusal.

“The systems of countries such as Kuwait, Qatar and Malaysia were studied when compiling the rules,” he said.

Shaheem said that along with the new institution, a council and a supervisory council for zakat will also be created under the new law.

The council will be made up of members of Figh Committee, businessmen and Ministry officials.

Shaheem said earlier that the introduction of taxation in the Maldives resulted in reductions in zakat payments.