The Ministry of Islamic Affairs and Endowments has announced that over USD 194,000 has been channelled into the Waqf Fund since the beginning of the year through the online links set up on the Maldives Inland Revenue Authority (MIRA) website for cash Waqf and charitable contributions.
Minister of Islamic Affairs and Endowments, Dr Mohamed Shaheem Ali Saeed disclosed the figure, noting that the funds are being expended strictly in accordance with the Waqf Fund’s Trust Statement and its governing regulations.
According to Minister Shaheem, the cash Waqf system, launched last year to strengthen the Waqf Fund in line with Islamic Sharia, has already proven effective. These contributions support religious activities, Islamic education, the preservation and construction of mosques, and the safeguarding of religious unity across the archipelago, he added.
The Waqf Fund, established to promote Islamic teachings and values, accepts contributions in the form of Sadaqah, Khairat, donations and bequests. A separate, robust mechanism manages non‑cash endowments, ensuring transparency and compliance with Sharia‑compliant investment principles aimed at generating sustainable returns for the fund.
Describing the initiative as the largest reform to the fund in its 15‑year history, the Minister had emphasised that funds received from Maldivian citizens, foreign entities, businesses operating domestically and abroad, and other stakeholders will remain deposited in the Waqf Fund until utilised for the purposes outlined in its statement.