What is Wakaf?
The party managing your Wakaf assets is the mutawalli.
Virtues of Wakaf
Conditions of Valid Wakaf
- State your intentions to contribute a Wakaf
- Make it eternal and not for a limited period only
- Accept that it is irreversible, which means that you cannot ask for its ownership back
Types of Wakaf
Traditional Wakaf involves the endowment of tangible assets such as land, buildings, or other physical properties for charitable purposes, usually in perpetuity. These assets generate income or benefits that are then used to support various social, religious, or educational causes.
Cash Wakaf involves the donation of money or financial assets for charitable purposes. Instead of donating physical assets, individuals or organizations contribute cash or financial instruments, such as stocks or bonds, to establish a Wakaf fund. The income generated from these funds is then used to support designated beneficiaries or projects.
Multi-asset Wakaf refers to endowments that include a combination of both tangible assets (such as land or buildings) and financial assets (such as cash or securities). This type of Wakaf provides flexibility in terms of diversifying the sources of income and potentially maximizing the impact of the endowment.
How does wakaf work?
All contributions to wakaf are pooled to form a corpus. The capital will be preserved and invested. Only the returns of these investments will be disbursed to the intended beneficiaries in accordance to the wakaf deed.
A Historical Overview of Wakaf in Singapore
Wakaf is one of the oldest institutions within the Singapore Muslim community. Our forefathers left this important legacy because they aspired to see progress and wanted to spread good beyond their lifetimes.
Singapore continues to benefit from the heritage Wakaf assets left behind by three main groups of wakifs: Arab merchants, Indian traders, and Nusantara landowners.
Arab Merchants
Indian Traders
Nusantara Landowners
Their initiatives highlight the economic influence of women in that era. Remarkably, around one-third of Singapore’s Wakaf originated from female donors, underscoring their significant role in shaping societal welfare and religious endowments.
Start Your Wakaf Journey
Your contribution is in trusted hands with Wakaf Masyarakat Singapura.