The newly opened Darul Iman or Waqf building will bring in an annual rental income of around MVR5.2 million, Islamic Minister Dr Ahmed Ziyad has said. He revealed it at a ceremony held Thursday night to officially open the first Waqf property in the country.
The Islamic Ministry utilised MVR24.9 million from the Waqf Fund to develop the 10-storey building, which is expected to create a steady stream of revenue for various projects carried out by the fund.
The ceremony held to open the building, located adjacent to Maafannu Madharusa, was attended by senior officials from the Islamic Ministry and other government offices.
Speaking at the ceremony, Islamic Minister Dr Ahmed Ziyad said they are working to develop more Waqf properties in the country.
Home Minister Azleen Ahmed also spoke at the ceremony. He noted the priority accorded by the current administration to build and maintain mosques across the country.
Office spaces in the building would be leased to government offices and state-owned companies, the Ministry said, and the rent collected through leasing office spaces will be used to build, maintain and renovate mosques across the country. The funds will also be utilised for religious awareness programmes, it added.
The Government has allotted four land plots for the Waqf Fund.
Waqf refers to donations or religious endowments, and disbursement of the funds for Shariah compliant projects such as mosques or religious schools.
The Islamic Ministry also launched its new website and mobile application at last night's ceremony.