Madrasahs

Wakaf Ilmu

Background 

Muis is planning to revive the noble act of perpetual giving by creating a new Wakaf called Wakaf Ilmu.

Wakaf Ilmu is created initially through consecrating shares of the beneficial income of the Muslim estates worth S$ 3 million.

By creating Wakaf from this beneficial income, the deceased charitable act can be perpetuated. The creation of Wakaf will also paved the way for more Muslims to come forward to do “planned giving” to build up the capital of the Wakaf.

Muis intends to consolidate the beneficial income received, contributions from planned giving and contributions from the public for this Wakaf Ilmu to build up its capital. The revenue generated through the investment of the Wakaf in capital guaranteed instruments and possibly properties in future can help supplement and sustain Muis’ long term financial commitments on some of its key programmes specifically for the Islamic Education in Singapore.

About Wakaf Ilmu

The word “Ilmu” means knowledge in both Malay and Arabic. This is in line with the objective of the Wakaf which is to fund the Islamic Education in Singapore specifically  for the full-time and part-time Madrasahs.

Why Islamic Education?

Similar to mosques, the Madrasahs form an important institution in creating religious leaders for our community.

Islamic Education in the Madrasah provides the religious groundings and education for our community to be resilient, confident and profound with deep taqwa. It is therefore imperative that such institution should not just be preserved but thrives in future.

Why In The Form of Wakaf?

Traditionally, many of the fund-raising initiative use the form of sadaqah and infaq which will meet the immediate needs of the Madrasahs. Some Madrasahs rely on at least 50% of their funding from donations. This is neither untenable nor sustainable.

To create a sustainable institution our Madrasahs need a stable flow of income for long term survival. Therefore Wakaf, akin to an endowment system, fits this need.

Wakaf Ilmu Structure

 

Term Meaning
Wakif Contributor
The Person who creates Wakaf
Mauquf Capital
The capital is in the form of money or any other assets. It will then be invested in properties or in shari’ah compliant fund
Mauquf-alaih Property or investment returns
Net income to be disbursed yearly to the beneficiaries
Beneficiaries Islamic Education (Full-time and part-time Madrasahs)
Trustee Wakaf Ilmu will be managed and administered by Muis

 

What Is The Minimum Contribution?

There is no minimum amount to contribute to Wakaf Ilmu. However, there are different range of benefits for different contributions.

The table below is a summary of the contributions and their respective benefits:

Amount Contributed Benefits
Below S$1,000
  • Receipt
S$1,000 and above
  • Receipt
  • Certificate
  • Annual Statement
S$10,000 and above
  • Receipt
  • Certificate
  • Annual Statement
  • Option to indicate preferred beneficiary
S$100,000 and above
  • Receipt
  • Certificate
  • Annual Statement
  • Option to indicate preferred beneficiary
  • Option to name your Wakaf
 

How Do I Contribute to Wakaf Ilmu?

You may contribute to Wakaf Ilmu through:

1. Pledge form   Icon for PDF English (PDF, 439KB) |  Malay (PDF, 439KB)
2. Muis or Mosques
3. Online payment 
4. Icon for PDF Giro (PDF, 3.7MB) 
5. Planned giving
6. CIMB Bank 

Please contact Muis if you would like to know more about Wakaf Ilmu or contribute via planned giving.