In a significant move to strengthen Islamic services in the Maldives, the Ministry of Islamic Affairs has announced a series of major decisions aimed at expanding and developing the Islamic Waqf Fund. The announcement was made by the Minister of Islamic Affairs, Dr. Mohamed Shaheem Ali Saeed, on April 15, 2025.
Speaking at a press briefing, the Minister emphasized that one of the key pledges in President Dr. Mohamed Muizzu’s presidential manifesto was the expansion of Waqf Fund projects. He stated that the objective is to create sustainable financial support for the development of Islamic services across the country.
Among the key decisions announced:
Expansion of Spending Areas: The Ministry will broaden the areas where the Islamic Waqf Fund can be utilized to enhance the impact of its initiatives.
Designation of Darul Iman Building: The Darul Iman Building has been officially designated as an asset of the Islamic Waqf Fund, with all benefits from the building allocated specifically for the development of mosques.
Profit Allocation from New Buildings: Profits from the newly constructed Darussalam and Darul Arqam buildings will be allocated to the Waqf Fund supporting religious affairs.
Establishment of Cash Waqf: A cash waqf of MVR 15 million has been established to further assist in advancing religious affairs.
Collaborative Development: A partnership between the Ministry’s Waqf Fund for Advancing Religious Affairs and the Maldives Zakat House’s Zakat Fund has been formalized to jointly develop the Darussalam and Darul Arqam buildings.
Additionally, the Minister revealed that BML Islamic has agreed to provide an Islamic loan of MVR 350 million to facilitate these ambitious projects.
Dr. Shaheem noted that practical implementation of these investment projects will begin soon, and once completed, they are expected to bring substantial progress to the Islamic sector in the Maldives.
“These are the largest projects ever undertaken by the Ministry of Islamic Affairs, and they mark a new chapter in the sustainable development of Islamic services in the country,” the Minister stated.
The Ministry affirms its commitment to ensuring that all efforts align with Islamic principles while fostering long-term growth and self-sufficiency in religious affairs.
