1

Institusi wakaf di Singapura Case study 1 Development by Muis as Trustees Wakaf Masjid Kassim created in 1921

wakaf consisted of a mosque, adjoining houses and burial groundobjective: maintenance of the mosques and burial ground from rental of the houses.

2

Institusi wakaf di Singapura In 1991 the income from the rental

can hardly cover the expenses Muis decided to develop the property

to make them more profitable In 1993 Muis launched to build three

blocks consisting forty maisonettes, mosques and commercial complex costing $25 million dollars.

3

Institusi wakaf di Singapura

The development was funded by Baitulmal.

Muis also bought adjacent land using baitulmal funds for the development to be more profitable

4

Institusi wakaf di Singapura The Maisonettes are leased for 99 years to generate funds to pay back baitulmal and for the development of the mosque

and the commercial complex. Why building a commercial complex

when wakaf has no fund? Is it legal to leased wakaf property for

99 years

5

Institusi wakaf di Singapura

After the development the property net asset value was increased from S$31 in 1991 to S$ 15 million

Increased in cash balance from deficits of S$ 60,000 to a surplus of S$1.6 million

Question Should Singapore introduce cash wakaf (wakaf

wang) so that the fund can assist the development of future wakaf.

6

Institusi wakaf di Singapura

Case study 2 Development by trustees Wakaf S.M.A Alsagoff created in 1902 One third of his properties to be

created as wakaf

7

Institusi wakaf di Singapura Deeds stated that: to pay expenses for his funeral and

several other individuals To purchase property worth S$7,000 for

building madrasah Balance of the fund to purchase

property freehold or leasehold property not less than 100 years.

8

Institusi wakaf di Singapura Objectives: one third for poor relatives in Singapore

and Hydramout, mosques and education for poor children, maintenance of Mats and zamzam water for the benefit of people visiting Mecca

one third to person whose names are mentioned as beneficiaries

one third to Muslim Trust Fund Association

9

Institusi wakaf di Singapura

Wakif indicates the amount to be spent on management and maintenance of wakaf properties

Trustees was not allowed to accumulate funds in their not exceeding S$5,000

Trustees receive 5% for the duties

10

Institusi wakaf di Singapura

Plan for development started when the wakaf lost 66 units out of the 97 units due to the Land Acquisition Act 1967 r the leasehold properties

In 1974 trustees obtain approval from Muis to sell one of its property situated in the City area for an amount of $430,378 as part payment

11

Institusi wakaf di Singapura

Balance payment is in the form of four units apartment in a residential area

In 1985 with the help of the Wakaf Development Committee approval was given to the trustees to redevelop the apartment into seven units of terrace house (cost of development 6 million)

12

Institusi wakaf di Singapura

Financing of the project from selling one wakaf property situated in the City area.

After development the annual income raised from S$3,600 to S$274,000

13

Institusi wakaf di Singapura With the first successful development

the trustees then develop wakaf property situated at North Bridge Road

With the development the income and total asset value of the wakaf properties increases although the number of wakaf properties decreases.