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Session on Awqaf 3. Dr. Shamsiah Abdul Karim.pptx PDF

35 Pages·2014·1.27 MB·English
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Preview Session on Awqaf 3. Dr. Shamsiah Abdul Karim.pptx

CONTEMPORARY INVESTMENT AND DEVELOPMENT OF WAQF ASSETS IN SINGAPORE Presented By: Dr. Shamsiah Abdul Karim At the Global Donors Forum Renaissance Hotel , Kuala Lumpur Malaysia 26 Apr 2012 Thanks to the prodigious development of the waqf institution , a person could be born in a house belonging to a waqf , sleep in a cradle of that waqf and fill up on its food, receive instruction through waqf- owned books , become a teacher in a waqf school, draw a waqf financed salary and at his death , be placed in a waqf provided coffin for burial in a waqf cemetery” ( Yediyildiz 1990:5 ) Presentation Flow Features of Waqf ADMINISTRATION OF MUSLIM LAW ACT WAKAF AM WAKAF KHAS WAKAF INVESTMENT OF WAQF ASSETS Assets Asset Allocation • Property Based – Physical assets • Equities / REITs • Sukuk • Alternative Investment • Direct Business/JV Kuwait • _____________________________________ _ Harvard MUIS Kuwait (%) Harvard Harvard MUIS HHHaaarvrrvavraadrrdd KKKuuuwwwaaiat i(ti%t) MHMMaUUUrIvSIaISSrd Comparison of Investment Portfolio Waqf Assets Property /Real Equities/ Sukuk Business/ others Estate (%) (%) (%) Singapore 79 5 16 ( cash /fds) Kuwait 53 47 - Trust ( Oxford 23 46/13 16 Foundation) Investment Challenges for Waqf Capital Guarantee Non Guaranteed Income Yearly Income plough disbursement back to capital Investment Short term Long term Horizon Asset classes High risk Low risk

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According to Nuffield , where time horizon is perpetual , Contemporary Sharia'Method. • Sukuk. • Musharakah. • Ijarah. • Intifa'a. • REITs. • Istisna
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