Zakat Fund spent MVR 45.9m on care in 2022–23

The Zakat Fund spent MVR 45.9 million on medical treatment for the poor in 2022 and 2023, according to newly released financial statements.

The Auditor General’s Office on Wednesday announced the completion of audits for the Zakat Fund for both years. The 2022 audit concluded that spending was carried out in line with the fund’s objectives and in accordance with the approved budget, the State Finance Act, State Finance Regulations and the Zakat Fund Trust Statement.

According to the audits, the fund received MVR 17 million as Fitr Zakat in 2022, along with MVR 182 million in property zakat.

The Zakat Fund’s balance stood at MVR 159 million at the start of 2022, increasing to MVR 186 million by year‑end. With the following year’s collections, the fund’s balance reached MVR 204 million at the end of 2023.

In terms of assistance provided, MVR 7.68 million in Fitr Zakat was distributed to the poor in 2022, and MVR 9.01 million in 2023.

Property zakat distributions amounted to MVR 26.87 million in 2022 and MVR 26.89 million in 2023, a total of MVR 53.8 million over the two years.

From property zakat funds, MVR 21.4 million was spent on medical treatment for the poor in 2022, and MVR 24.5 million in 2023, totalling MVR 45.9 million.

An additional MVR 381,237 was provided to individuals in special circumstances during the two‑year period.

The Zakat Fund provides support for medical treatment, hospital bills, accommodation, meals and travel for patients and their caretakers. It also assists in purchasing medical equipment or items recommended by doctors.

A significant number of people in the Maldives rely on financial assistance for healthcare, and the state health insurance scheme also incurs substantial annual costs. International financial institutions have repeatedly raised concerns about the sustainability of the system, and a recent audit of Aasandha has also recommended reforms.

Parliament passed a new Zakat Bill last month to strengthen the collection, management and distribution of Zakat funds and assets. The bill was ratified by President Dr. Mohamed Muizzu on Tuesday.

Under the new law, the Zakat Fund will be maintained in a separate account at the Maldives Monetary Authority, as designated by the Finance Ministry.