President Dr Mohamed Muizzu has established a State-Owned Enterprise named ‘Maldives Awqaf Investments Limited’.
The company was established by Presidential Decree No. 14/2026, pursuant to the powers vested in the President under Section 15 of the Companies Act (Act No. 7/2023).
The company was established in line with the Administration’s policy to develop, maintain and manage waqf (endowment) properties across the Maldives, with the aim of generating sustainable funding for religious affairs.
Maldives Awqaf Investments Limited is also mandated to undertake the construction, maintenance and refurbishment of mosques across the country; provide, improve and upgrade essential mosque facilities; and engage in sustainable, Sharia-compliant commercial activities.