The Maldives Zakat House has signed an agreement with the Maldives Monetary Authority (MMA) to hand over the management of the Zakat Fund to the central bank.

Under the agreement, the Zakat Fund will create a separate bank account and distribute the Zakat (alms) money in a transparent manner.

In addition, the Zakat Fund will be used to invest and earn profits in accordance with Islamic Sharia.

Islamic Minister Dr. Mohamed Shaheem Ali Saeed said the MMA would play an important role in strengthening the Zakat process.

“The fact that the MMA is involved in formulating a Zakat Act and taking the Zakat process to a new stage, is an important step towards making it more extensive and stronger," he said.

A Zakat Bill was passed by the parliament on December 6, 2025. Under the bill, the Zakat House has been established under the Ministry of Islamic Affairs.

Meanwhile, the President’s Office today (January 6) opened for applications for the membership of Zakat Council.