Update on the Singapore Community Wakaf

Question

Mr Zhulkarnain Abdul Rahim: To ask the Minister for Social and Family Development and Minister-in-charge for Muslim Affairs whether he can provide an update on the Singapore Community Wakaf (SCW) and plans to support the establishment of the SCW including any legislative or regulatory changes and public awareness campaign.

Response

Mr Masagos Zulkifli, Minister-in-charge of Muslim Affairs & Minister for Social and Family Development:

1. Mr Speaker, the Singapore Community Wakaf, also known as “Wakaf Masyarakat Singapura” (or WMS), was announced in June 2020 to support the long-term needs of the Muslim Community. This endowment project is intended to create a sustainable income to support our religious institutions, asatizah development and community programmes.

2. Since then, an Advisory Panel chaired by Mr Abu Bakar Mohd Nor, a Muis Council Member, and also Deputy President of the Singapore Malay Chamber of Commerce and Industry (or SMCCI), has been set up to recommend how to galvanise community involvement and operationalise the WMS. The panel is supported by the Expert Advisory Panel and Community Advisory Panel, comprising professionals and leaders from the investment, legal, property and religious sectors.

3. The advisory panel has conducted a series of targeted engagements with key stakeholders to better understand the community's sentiments and identify the critical factors for WMS to succeed. Following the engagement sessions, the panel has submitted a report on the proposed key thrusts and workstreams for the development of WMS. I am reviewing the panel's recommendations and details will be shared in the next few months. I would like to thank the members of the Expert and Community Panels for their effort and recommendations.