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
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.

3. 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

4. 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

5. Institusi wakaf di Singapura
After the development the property net asset value was increased from S$31 in 1991 to S$ 15 million
Increased in cash balance from deficits of S$ 60,000 to a surplus of S$1.6 million
Question
Should Singapore introduce cash wakaf (wakaf wang) so that the fund can assist the development of future wakaf.

6. 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

7. Institusi wakaf di Singapura
Deeds stated that:
to pay expenses for his funeral and several other individuals
To purchase property worth S$7,000 for building madrasah
Balance of the fund to purchase property freehold or leasehold property not less than 100 years.

8. 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

9. 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 S$5,000
Trustees receive 5% for the duties

10. 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 r 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

11. 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)

12. 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 S$3,600 to S$274,000

13. 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.