Islamic Religious Council of Singapore Will Disburse More Than SGD 4 Million from Waqf-Generated Income

The Islamic Religious Council of Singapore (Muis) plans to disburse more than SGD 4 million from its Waqf-generated income in 2021, according to a statement it issued on the 4th of August 2021.

Why it Matters?

Esa Masood, Chief Executive Officer of Muis, highlighted that the Council has grown its Waqf to more than SGD 900 million in 2020 from SGD 150 million in 2000, adding that the Council would continue to ensure that Waqf is managed and governed in an appropriate manner, based on statutory and religious obligations.

Details

SGD 2,936,016 is to be given to local beneficiaries, while SGD 1,082,257 is to be handed to foreign beneficiaries, bringing the total to SGD 4,018,273. Of the money channelled to local bene...