Malay MPs

President MUIS

Mufti

Chairman of the Kassim Mosque Management Board

Distinguished guests

Ladies and gentlemen

I am happy to be here on this auspicious occasion for the Muslim community in Singapore.

2 Today’s opening of the Wisma Indah complex marks the completion of this $25 million project to redevelop Wakaf Kassim. It is a ground-breaking achievement for MUIS’s wakaf developmental efforts. Not only will it increase the annual income of the wakaf, but also that of the beneficiaries and the whole Muslim community.

3 Apart from MUIS, Wisma Indah also plays host to the offices of major Islamic organisations such as Persatuan Guru-Guru Agama Singapura (Pergas, Singapore Religious Teachers Association), Darul Arqam (Muslim Converts Association of Singapore), as well as various educational and multi-media vendors. This tenant mix fits in nicely with MUIS‘s aim to make this wing a centre of learning and knowledge acquisition for the Muslim community. As we all know, knowledge and learning are prerequisites for survival and progress in the new millennium. The building also symbolises the synergy of MUIS with other Muslim organisations a further demonstration that we achieve more when we work together. The use of development of the wakaf infrastructure benefits the community in the end.

4 Since the first development of the wakaf at Duku Road in the early 90s, MUIS has gained valuable experience and made significant progress in wakaf development in Singapore. In Singapore, we know that land is scarce and its value high. MUIS recognised and capitalised on this basic fact. Most of the wakaf are rich in assets but financing their development to enhance the value of these assets has always been a problem. MUIS took the bold step of making advances from the Baitulmal to assist in financing the wakaf development. It has also exercised creativity in using the returns from the wakaf to reinvest in properties.

5 There are 90 wakaf under MUIS management and supervision. To date, MUIS has developed about 19 projects from 15 wakaf at a total cost of about $50 million. The returns from these wakaf properties have funded many activities of the Muslim community.

6 I am pleased to know that MUIS has begun to increase its efforts to educate the Muslim public on wakaf. The mini exhibition at Wisma Indah which will soon make its round to the mosques, is one new approach at educating the public. Many of the wakaf properties that exist today were dedicated more than half a century ago by early Muslim settlers. But not many know about their history, existence and contribution to the community.

7 The potential of our wakaf to generate income for our community has not been fully tapped. I understand that it plans to redevelop all wakaf properties in its portfolio and has appointed advisers for the development and investment planning of wakaf properties. This is a serious undertaking and commitment.

8 With the amendments to AMLA, more properties are expected to be vested with MUIS and the affected parties such as the trustees, beneficiaries and legal practitioners will need to work hand in hand with MUIS. The amendments are to ensure the proper management, registration, conservation and protection of these wakaf properties. With more properties vested in MUIS, its burden and responsibilities will increase. Public interest and expectation are also likely to increase due to the religious element of wakaf and the large value of the properties involved.

9 All this means that MUIS has been entrusted with heavier responsibilities in a world that is becoming more complex and rapidly-changing. At the same time, the real estate sector is becoming more competitive and sophisticated. MUIS will therefore have to assess its own capabilities carefully and honestly and find ways to carry out its mission efficiently and effectively so that its wakaf development programmes bring maximum benefits to the Muslim community.

10 This means MUIS will have to place wakaf development on a more organised, scientific and professional footing and not merely another function within the statutory board. This is both a challenge and an opportunity for MUIS.

11 The institution of wakaf is unique to the Muslim community. In Singapore particularly, where it operates in a secular and multi-racial environment and where land is scarce, wakaf and their development offer unique challenges and opportunities. I hope the Muslim community understands and appreciates this context and give MUIS your support and encouragement.

12 Let us pray to Allah swt for the success of the Wakaf Kassim development.

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