Islamic University has decided to build a wagf building to raise funds for Islamic University. Speaking to the press today, the rector of Islamic University, Dr.Shaheem said that the building will be as tall as the regulations permit. The building will be built in Hulhumale’.
Dr.Shaheem said that all costs of the university are currently covered by the state and the President gives a high priority to the affairs of the university. He said that even though, the university will be able to further develop and progress when they have the capacity to generate money on their own.
“The president assured that land will be allocated for this building” said Dr.Shaheem. Dr.Shaheem said that the building will be financed from the IUM development fund. This fund is the fund where the financial assistance received to the university is deposited. He said that the money generated from the building will be used to develop the university.
Dr.Shaheem first organized the building of a wagf building when he was the Islamic Minister. Back then the purpose was to have a building that can generate money to maintain mosques. He managed to get more than 50 percent of the money required to develop the building through foreign assistance. The state spent the rest.
The first Wagf building generates 5 million Rufiyaa per year for the mosques.
Wagf building of Islamic University will be as tall as the regulations permit! : Dr.Shaheem
