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.

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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

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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

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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

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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.

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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

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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.

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Institusi wakaf di Singapura

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

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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.

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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

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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

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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.

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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.

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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.