Minister of Islamic Affairs Dr. Mohamed Shaheem Ali Saeed has announced that the Maldives’ second modern Waqf building, Darul Arqam, is expected to generate at least MVR 10 million in annual revenue for the Islamic Waqf Fund.
In a post on social media, Minister Shaheem said the agreement to begin construction of the Darul Arqam building will be signed on the 26th of this month. He described the project as an important step in strengthening the country’s Waqf system and raising funds for religious and social initiatives.
The Maldives’ first modern Waqf building, Darul Imaan, a nine-storey complex, was inaugurated in 2017 during the administration of former President Abdulla Yameen Abdul Gayoom, when Dr. Shaheem also served as the Islamic Affairs Minister.
Shaheem said the Ministry is working to expand Waqf projects across the country, noting that these initiatives aim to institutionalize the Waqf system, promote Islamic values, and support Islamic education nationwide.