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.
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.
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.
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.
The Person who creates Wakaf
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
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|
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:
|S$1,000 and above||
|S$10,000 and above||
|S$100,000 and above||
You may contribute to Wakaf Ilmu through:
Please contact Muis if you would like to know more about Wakaf Ilmu or contribute via planned giving.
Last updated on 22/1/2018