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Monday, 25 August 2008

$1.7m in wakaf given out to Muslim community in Singapore

WAKAF, or endowment funds, totalling $1.7 million were disbursed to over 300 Muslim beneficiaries including mosques, madrasahs and needy families on Tuesday morning.
The Islamic Religious Council of Singapore (Muis) said this is the highest amount that has been given out so far.
The funds come from property, valued at $350 million, that were donated by Muslim philanthropists upon their death.
A significant wakaf contribition will be allocated to the Islamic education sector such as full-time education at the six madrasahs, as well as part-time religious classes held in mosques.
Since 1999, it is mandatory for all wakaf land to be registered with Muis.
Wakaf land is trust property that has been dedicated for pious, religious and charitable purposes.

(Source: The Straits Times)
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