The Ministry of Islamic Affairs has established a Waqf Fund under Sharia principles, launching it with an initial fund of MVR 15 million.

Speaking to MMTV, Minister of Islamic Affairs Dr Mohamed Shaheem Ali Saeed stated that the fund will be invested, with net profits allocated to Islamic sectors.

"Maldivians now have the opportunity to dedicate cash in the way of Allah. The Waqf Fund will also accept donations, charity, gifts, and bequests," he said.

The cash waqf will be managed separately from other funds under a structured system, he added.

According to the Minister, this marks the most significant reform to the fund since its establishment 15 years ago.

Proceeds will be used for Islamic dawah, education, and advancing Islamic civilisation. The fund will also support writing, translating, and researching Islamic literature, developing the sector, constructing mosques, assisting in construction, and maintaining related infrastructure.