The Minister of Islamic Affairs, Dr Mohamed Shaheem Ali Saeed, announced that Bank of Maldives Islamic has approved a Sharia-compliant loan of MVR 350 million to support various Waqf development projects. The Ministry is working to strengthen the Waqf Fund by expanding its uses, designating assets like the Dharul Iman Building, and establishing a MVR 15 million cash endowment. These efforts aim to generate sustainable funding for Islamic services and religious infrastructure across the Maldives.