The Maldives Zakat House has transferred management of the national Zakat Fund to the Maldives Monetary Authority (MMA) under a newly signed agreement.
The agreement was signed by Minister of Islamic Affairs Dr Mohamed Shaheem Ali Saeed on behalf of the Zakat House, and MMA Governor Ahmed Munawwar on Monday. The move is part of the government’s broader efforts to reform and institutionalise the country’s zakat system, which included the establishment of the Maldives Zakat House as a specialised agency under the Zakat Act on 1 January 2026.
Under the new framework, the Zakat Fund will be held in a separate account, independent of public state funds. The fund will be managed in line with Islamic Shariah principles, prioritising ethical investment and sustainable returns.
Officials highlighted that MMA oversight aims to ensure transparency, credibility, and public confidence in the management of the fund, strengthening the integrity of the national zakat system.
