1 FEBRUARY 2019
1. The Islamic Religious Council of Singapore (Muis) and the Special Needs Trust Company (SNTC) today signed a Memorandum of Understanding to encourage more Muslim families with persons with special needs to come forward and set up instruments to safeguard their loved one’s welfare and financial security.
2. Through the Muis Special Needs Trust Scheme, Muis will sponsor eligible families with the initial capital of $5000 to set up the trust. Muis will also channel an additional $5000 to these families on a 1-1 matching basis. With a total of $10,000 per trust account, 100 persons with special needs stand to benefit from this initiative.
3. In his opening address, Chief Executive of Muis, Mr Esa Masood said: “Currently, less than 2% of trusts in SNTC have been set up by Muslim families. The feedback on the ground was that the capital needed to create the trust was one factor that proved to be challenging for interested families. This is particularly so for low and middle income families who are doing their best to make ends meet, while at the same time, hoping that they can still plan for the needs of their loved ones when they are no longer there to care for them. It was in view of this that in April last year, Muis announced that we will allocate $1 million towards a Scheme to support this effort, through funds that were paid to Baitulmal from unclaimed estates.”
4. To reach out to the wider community, Muis will engage various stakeholders to promote the Scheme to the public, including organising events on inheritance issues, distribution of collaterals and sharing with mosques, madrasahs and Zakat beneficiaries.
MAJLIS UGAMA ISLAM SINGAPURA
Last updated on 01/4/2019