The foundation has been laid for the Dhaarul Arqam Waqf building, which is being constructed in the capital Malé.
The foundation stone for the building was laid by the Minister of Islamic Affairs, Dr Mohamed Shaheem Ali Saeed, during a special ceremony attended by the President Dr Mohamed Muizzu.
The ceremony was also attended by state ministers and senior officials from the Ministry of Islamic Affairs.
The Dhaarul Arqam Waqf building, planned as a 12-story structure, will be developed with modern facilities. The basement and ground floor are designated for parking, while the first floor will house the reception area. A conference hall is planned for the second floor, and the remaining floors up to the twelfth will include modern office spaces, meeting rooms, and prayer rooms. The rooftop will be established as an open terrace.
The building will be equipped with elevators, and special arrangements will be made to ensure accessibility for persons with special needs.
Speaking during the ceremony, Minister Dr Shaheem described the project as an important initiative highly beneficial to the Islamic sector.
“The profit generated from this building will be spent on Islamic services, spreading the knowledge of the Holy Quran, mosques, and all religious matters,” he said.
The Minister further stated that all ongoing projects are expected to be completed within a maximum of two and a half years, enabling the public to begin benefiting from them during this administration.
In his speech, the Minister also extended gratitude to the officials of Bank of Maldives Islamic. He highlighted that BMI’s financing of the project is a significant contribution to nation-building and stands as the largest financial commitment ever made by a Maldivian bank for a religious cause.
The project, contracted to Rasheed Carpentry and Construction Private Limited, is scheduled for completion within 540 days at a total cost of USD 2.6 million financed through the BML Islamic Finance scheme.
This initiative is a significant undertaking aligned with President Dr Muizzu’s presidential pledge to expand the Waqf fund in the Maldives and increase resources that contribute financially to the Islamic sector.
Additionally, alongside Dhaarul Arqam, a Waqf building is planned for Hulhumalé, and a dedicated Waqf building for the Holy Quran is planned for Malé.