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Institusi wakaf di Singapura

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Institusi wakaf di Singapura Definisi wakaf menurut ahli figh Syafi iyah - menahan harta untuk memberi manfaat dan dikekalkan assetnya – PowerPoint PPT presentation

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Title: Institusi wakaf di Singapura


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 ground
  • objective maintenance of the mosques and burial
    ground from rental of the houses.

2
Institusi wakaf di Singapura
  • Wakaf Kassim was transferred to Muis from the
    Mohammedan and Hindu Endowment Board in 1968
    together with 5 other wakaf.
  • Habib Noh
  • Arab Street Educational Trust
  • Wakaf Jamae

3
Institusi wakaf di Singapura
  • Dunlop Street Mosque
  • Coronation Road Mosque (Majid Al Huda)

4
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.

5
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

6
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

7
Institusi wakaf di Singapura
  • After the development the property net asset
    value was increased from S31 in 1991 to S 15
    million
  • Increased in cash balance from deficits of S
    60,000 to a surplus of S1.6 million
  • Question
  • Should Singapore introduce cash wakaf (wakaf
    wang) so that the fund can assist the development
    of future wakaf.

8
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

9
Institusi wakaf di Singapura
  • Deeds stated that
  • to pay expenses for his funeral and several
    other individuals
  • To purchase property worth S7,000 for
    building madrasah
  • Balance of the fund to purchase property
    freehold or leasehold property not less than 100
    years.

10
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

11
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 S5,000
  • Trustees receive 5 for the duties

12
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 on 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

13
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)

14
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
    S3,600 to S274,000

15
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.

16
Institusi wakaf di Singapura
  • Case study 3
  • Development by MUIS
  • Wakaf Jabbar
  • created in 1947
  • Freehold property at Duku Road consisting of 4
    houses

17
Institusi wakaf di Singapura
  • Objectives
  • For the expenses and management of Mosque
    situated at the corner of Jalan Lapang and Jalan
    Sayang.
  • At any time if the Mosque shall cease to exist or
    closed benefit transfer to Sultan Mosque.

18
Institusi wakaf di Singapura
  • Istibdal
  • Wakif permits trustees to sell the trust property
    as he thinks fit, and use the money to replaced
    with another property with not less than 800
    years to run.

19
Institusi wakaf di Singapura
  • In 1991 Muis developed the property and completed
    in 1993.
  • The development consists of 4 units 3 storey
    terrace house,
  • Cost 1.6 million
  • Finance by selling two units of the house.

20
Institusi wakaf di Singapura
  • Income from rental
  • 1991 68 , 1999 51,849
  • And
  • From deficit of 255,534 to surplus of 35,705

21
Institusi wakaf di Singapura
  • Case study 4
  • Joint Venture between Muis and Tenant
  • Property situated at Upper Dickson
  • (previously under rent control act)
  • Tenant will pay all the cost of repair and
    renovation

22
Institusi wakaf di Singapura
  • Muis on the other hand allow the tenants to
    occupy the premises for 12 years with discounted
    monthly rental.
  • But the lease agreement will have to be renew
    every 2 years.
  • The renewal will base on the market rental rate
    less agreed discount.

23
Institusi wakaf di Singapura
  • By this Joint Venture Agreement
  • the Beneficiary will still receive funds
    every year
  • AND
  • The two year renewal allow the rental to be
    determine by market.

24
Institusi wakaf di Singapura
  • This is similar to the system in Turkey which is
    known as icareteyn under the Ottoman.
  • But unlike Singapore, the system in Turkey had
    led to the dilution of wakaf property.
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