WAKAF


 

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Wakaf - Assets For Our Future

The amendments to Administration of Muslim Law Act (AMLA)will boost the redevelopment of wakaf properties under the care of the Islamic Religious Council of Singapore (MUIS).

For one, it will bring more wakaf properties not yet vested with the Council under its fold. Under the proposed amendment, all trustees must register the properties with MUIS within six months or else it becomes an offence.

Said Syed Haroon Aljunied, Secretary of MUIS, "We believe there are still some properties which have yet to be vested with MUIS. With these properties as with others under our care, we will redevelop them to enhance their value and returns, manage and submit their accounts for transparency and ensure that the objectives of the wakif are fulfilled."

Development Programme

Since the 1990s, MUIS has embarked on a programme to develop the more than 80 wakafs under its care and enhance their value. In the past three years alone $20 million was spent to develop more than 100 units of wakaf properties, comprising mos-ques, commercial and residential properties. This resulted in a tremendous increase of rental income, for example, from $50 to $5,000 per month per unit.

This year, MUIS plans to enhance about 10 more units in Geylang Road, Upper Dickson Road and Joo Chiat Road, costing more than $5 million.

Overcoming Financial Constraints

Though financing has been a problem in launching the wakaf projects in the past, MUIS has initiated some measures to address the situation through leasing and adopting an advancement scheme from the Baitulmal.

Some of the financial constraints may be eased further with other amendments to the AMLA.

With the provision for MUIS to form companies, MUIS' Property Department can go into joint ventures and obtain the funds so that wakaf properties can be redeveloped faster.

Better Management

To better manage the wakaf properties worth more than $126 million, MUIS has in the past few years embarked on a serious effort to recruit capable staff.

Currently the team handling the wakaf administration, management and development comprises seven tertiary graduates who are professionals in their own relevant and respected fields as well as several management support staff. Where necessary, the services of external resources in the form of consultants and volunteers are engaged.

The development of wakaf lands and properties will perpetuate the existence of the wakaf which is an important source of funds for financing the programmes and activities of Muslim community and contribute to its general growth.

Said Syed Haroon, "With better management of the wakaf properties, the whole community benefits. Much of the returns go to the madrasahs, mosques and the poor."WK


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