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MOBILISING CAPITAL FROM WAQF- The Singapore Experience Dr. Shamsiah Abdul Karim Deputy Director Asset Development Islamic Religious Council of Singapore.

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Presentation on theme: "MOBILISING CAPITAL FROM WAQF- The Singapore Experience Dr. Shamsiah Abdul Karim Deputy Director Asset Development Islamic Religious Council of Singapore."— Presentation transcript:

1 MOBILISING CAPITAL FROM WAQF- The Singapore Experience Dr. Shamsiah Abdul Karim Deputy Director Asset Development Islamic Religious Council of Singapore 29 th October

2 Asset Rich Cash Poor Wakaf S. Ali Omar Aljunied Somerset Bencoolen Bencoolen Mosque 3-storey commercial space 12 storey tower with 107-unit of serviced apartments managed by Ascott Limited Financing concept: Sukuk musyarakah An-Nahdhah Mosque Cash waqf- mthly contribution CASH WAQF Wakaf Kassim 40 masionette apartment, commercial complex Kassim mosque Funding concept Musyarakah with Baitulmal participation 11 Beach Rd – Istibdal of 44 waqf to one single bldg. Sukuk financing Structure of waqf shareholders like an internal reits structure. Istibdal- sukuk Ijarah $614M Wakaf Net Assets FY 2013

3 Red Community Funding Financing Structure; joint venture and community funding – share ownership concept. 42 residential units 5 commercial units 1 Bakery 2013 $65.9 mil 35,710 sqf(Commercial GFA = 5,479 sqf) Rental Approx. $556K 3 Wakaf Sh. Zain Alsharoff Alsagoff

4 Everybody can become a waqif Cash Waqf 4 $7.2M Fund Mgt –Sukuk portfolio Property investment – 2 units in Red House Objective: to benefit the Islamic Education in Singapore More than 2000 contributors Promotion basis

5 Vehicle For financing the Muslim community locally and globally 15% 85%


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