- Yameen Idrees, former head of Maldives Hajj Corporation, appointed managing director of Maldives Awqaf Investments.
- The PCB named Sheikh Izzuddin Adnan as chairperson alongside six other board members.
- Established by President Muizzu on 12 September, the company manages endowment properties and mosque infrastructure.
Yameen Idrees, former head of Maldives Hajj Corporation, has been appointed managing director of Maldives Awqaf Investments, the new state-owned company tasked with managing endowment properties to generate sustainable funding for religious affairs.
The Privatization and Corporatization Board (PCB) announced the company’s board appointments on Thursday, naming Sheikh Izzuddin Adnan, director general of Maldives Zakat House, as chairperson.
The other board members are Mohamed Hilmy, Abdulla Ali, Maryam Nihayath, Dr. Mohamed Shujau and Hussain Sham Adam, state minister for finance.
Established by President Dr. Mohamed Muizzu on 12 September, Awqaf Investments is responsible for developing, maintaining and managing waqf, or endowment, properties across the Maldives. Its mandate reflects the administration’s policy to use these properties as a sustainable source of funding for religious affairs.
The company’s responsibilities also extend to mosque infrastructure. It is mandated to construct, maintain and refurbish mosques across the country, as well as provide, improve and upgrade essential mosque facilities.
Alongside its property and infrastructure responsibilities, Awqaf Investments is authorised to undertake sustainable, Sharia-compliant commercial activities.
