The Maldives Zakat House has officially announced a reduction in the Nisab for Zakat al-Mal, the minimum threshold of wealth upon which Zakat becomes obligatory. Effective immediately, the new Nisab has been set at MVR 19,266.10.

In the Maldives, the Nisab is determined based on the global market value of silver. The current adjustment reflects recent price fluctuations in the international market, with the rate now calculated at MVR 32.38 per gram for a total of 595 grams of silver.

The previous Nisab, which had been in effect since April last year, was established at MVR 21,836.50. Under Islamic jurisprudence, Zakat al-Mal is mandatory for any individual whose personal wealth meets or exceeds this threshold for a full Hijri year. The payable Zakat is calculated as 2.5 percent of the total qualifying wealth.