The Maldives Zakat House has announced that Zakat funds are invested in accordance with the principles of Islamic Shariah, ensuring that the rights of the underprivileged and the needy are fully protected and not compromised. While the primary objective of these investments is to increase the amount of support distributed to Zakat beneficiaries, several Waqf development projects are currently underway in Malé and Hulhumalé.
Under the new regulations, investments from the fund will be made exclusively in collaboration with state institutions, following the recommendations of the Advisory Committee. Furthermore, to ensure transparency and accountability in the fund’s operations, it must undergo an annual audit, and an annual report must be submitted to the President and the People’s Majlis.
