Zakat al-Mal threshold revised

The Maldives Zakat House has officially revised the financial threshold, or Nisab, for Zakat al-Mal, setting the new requirement at MVR 19,527.90. 

This update reflects a rise in the global valuation of silver, which serves as the local benchmark for determining Zakat eligibility. The previous threshold, established in August 2024, stood at MVR 11,191.95, meaning the minimum wealth required for an individual to be obligated to pay Zakat has increased by over 74 percent in just a few months.

The decision to link the Nisab to silver prices, currently valued at MVR 32.82 per gram, is a deliberate choice supported by Islamic scholars. 

By utilizing silver instead of the much more expensive gold, the threshold remains accessible to a broader segment of the population. This strategy ensures a more robust social safety net, as it increases the number of people contributing to the Zakat fund, which is ultimately distributed to those most in need within the community.

Under Islamic law, Zakat al-Mal becomes a mandatory obligation only when an individual’s personal wealth stays above this Nisab for a continuous lunar year. Once this criteria is met, the contributor is required to give 2.5 percent of their total qualifying assets.