Maldives to set up Zakat House to better manage alms funds
The Zakat House will be established with the goals of fortifying the Maldivian zakat system.
Top Stories
-
Over 100 Fenaka staff in Addu dismissed, mayor says
-
MMA revokes Express Money Exchange licence over violations
-
PCB instructs MTDC to remove chairman Faiz after 6-year term
-
$10 million Maniyafushi investment aimed at fish farming industry
-
Parallel markets can't be controlled via legislation, says Inaz
President Mohamed Muizzu on Sunday decided to establish an institution called Maldives Zakat House under the Ministry of Islamic Affairs, following recommendations after deliberating on a paper submitted by the Ministry of Islamic Affairs.
Following the President's decision, the Zakat House will be established with the goals of fortifying the Maldivian zakat system and doing all necessary to expand the Zakat Fund by investing in areas where shariah has approved zakat, thereby maximising benefits for the distributors.
Under this initiative, the mechanism of accepting and distributing Zakat Al-Mal, or Zakat on Wealth, and Zakat Al-Fitr, or the Zakat of Fast-Breaking will be improved, as a Shariah board will oversee the zakat system with upgrades in light of contemporary fiqh.
The initiative will also conduct wide-ranging Zakat awareness campaigns for the public and the business community and attempt to end poverty in the Maldives by enabling those who have been classified as impoverished to support themselves financially.
