The Government of Maldives has announced plans to significantly expand Awqaf investments, aiming to generate over USD 6.5 million annually by 2045. The initiative is part of a broader strategy to reduce reliance on the national budget and ensure sustainable funding for religious and social development projects across the country.
The announcement was made by Minister of Islamic Affairs, Dr. Mohamed Shaheem Ali Saeed, during a special Hafiz Graduation Ceremony held on the evening of Wednesday, March 26, 2025, at the Islamic Centre in Malé. The ceremony, the first of its kind in the Maldives, honored students who have successfully memorised the entire Holy Quran, a significant milestone in the country’s religious education efforts.
During his address, Minister Dr. Shaheem outlined key initiatives aimed at strengthening the Islamic Waqf Fund. He noted that two major investment projects are scheduled to commence shortly after Ramadan, with financing already secured through the Bank of Maldives. According to Dr. Shaheem, these projects are expected to generate approximately USD 778,210 annually until 2045. From that point onward, the annual contribution to the Waqf Fund is projected to rise to USD 4.5 million.
“The objective is to increase Awqaf investments to at least USD 6.5 million per year by 2045, allowing the Ministry of Islamic Affairs to carry out its projects without depending on state funds,” Dr. Shaheem stated.
In addition to financial sustainability efforts, the Minister also revealed a nationwide plan to expand the government’s Quran memorisation (Hifz) programme. Under the directive of President Dr. Mohamed Muizzu, the Ministry of Islamic Affairs aims to implement the programme in all inhabited islands, including those without a dedicated Islamic Centre. Quran recitation classes will be introduced in mosques where necessary, while technical and financial support will be extended to privately operated Quranic schools and other government agencies involved in Islamic education.
In his remarks, Dr. Shaheem stated that tonight, on the 27th night of Ramadan 1446, marks the formal inauguration of a significant new chapter in the Islamic history of the Maldives. He announced that, beginning this year, the Hafiz Graduation Ceremony will be held annually on the 27th night of Ramadan, a night of great spiritual importance in the Islamic calendar.
Dr. Shaheem expressed his heartfelt gratitude to His Excellency President Dr. Mohamed Muizzu for providing the opportunity to organize this historic event highlighting that since the Maldives embraced Islam over 800 years ago, this is the first time a national-level ceremony has been dedicated to honouring those who have completed the memorisation of the Holy Quran. He added that this initiative brings a profound religious perspective to the nation’s Islamic identity, and reflects the government’s commitment to uplifting Quranic education and preserving the country’s Islamic values.
Dr. Shaheem emphasized the growing global demand for Quranic knowledge and reiterated the government’s commitment to nurturing a generation deeply rooted in Islamic teachings. He described the Hafiz Graduation Ceremony as a historic moment that reflects the administration’s focus on religious education and spiritual development.
The Minister also highlighted a significant milestone achieved this year, the highest number of graduates completing the Hifz programme in a single year, with 24 individuals awarded the title of Hafiz. The government now aims to raise this number to at least 100 Hafiz graduates annually.
To support this expansion, the Ministry plans to increase the availability of Quranic learning resources, including the establishment of new recitation centres and enhanced infrastructure for religious education. The overarching goal is to make Quranic learning more accessible to all children across the Maldives.
The strategic push to grow Awqaf investments and broaden Quranic education marks a major step in the government’s vision of fostering a self-sustaining and spiritually enriched society.
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