Islamic Minister Dr. Mohamed Shaheem Ali Saeed has stated that the aim is to expand Awqaf investments and carry out projects to reach at least 100 million rufiyaa annually without relying on the state budget.
The Minister said this while speaking at the inaugural honorary ceremony for awarding certificates to Hafiz who have memorized the Holy Quran.
The Minister said that they are preparing to start two major projects after the month of Ramadan, and BML financing has been arranged to carry out this work.
Dr. Shaheem said that upon completion of the projects, 12 million rufiyaa will be deposited into the Islamic Waqf Fund every year until 2045, and after 2045, about 70 million rufiyaa will enter the Islamic Fund every year.
There is already a Waqf building in Male’. The building (Darul Iman), constructed during former President Abdullah Yameen’s administration to enrich the Waqf fund, began operations in 2016.
Minister Dr. Shaheem also mentioned that about six million rufiyaa enters the fund annually from this place. He added that this money is being spent on repairing mosques and improving their conditions.
