Maldives Zakat House Signs Strategic Agreement with Malaysia’s INCEIF University

In a move to enhance the development of Islamic finance and the Zakat system in the Maldives, Maldives Zakat House has signed an agreement with Malaysia’s renowned INCEIF University. The partnership aims to boost technical expertise, staff training, and the promotion of the Islamic economy in the Maldives.

The agreement was formalized with the signing by Ustaz Izzaddin Adnan, Director General of Maldives Zakat House, and Professor Dr. Aishat Muniza, representing INCEIF University. The Maldives Zakat House delegation is currently in Malaysia at the invitation of Dr. Dato’ Muhammad Naeem bin Mukhtar, Malaysian Minister of Religious Affairs

This collaboration marks a new chapter in the Maldives’ efforts to establish a robust Zakat system, following the inauguration of Maldives Zakat House in December of last year by President Dr. Mohamed Muizzu. The Zakat House has been actively working to raise awareness about Zakat and streamline its process, helping to strengthen the Islamic social finance framework in the country.

During the meeting with Malaysia’s Minister of Religious Affairs expressed strong support for the Maldives’ initiatives in Islamic finance, praising the establishment of a dedicated Zakat agency as a progressive step for the nation. He also assured continued technical support and staff training to help Maldives Zakat House achieve its objectives.

The Maldives Zakat House, as the central agency overseeing the collection and distribution of Zakat in the country, plays a crucial role in ensuring that Zakat funds are managed efficiently and in accordance with Islamic principles. With the assistance of INCEIF University, known globally for its expertise in Islamic finance, the Zakat House is expected to further enhance its operations and contribute to the growth of the Islamic economy in the Maldives.

This collaboration is seen as a milestone in fostering closer ties between the Maldives and Malaysia in the field of Islamic social finance, and both parties are optimistic about the long-term benefits of the partnership.