Empowering The Legacy of Singaporean Ulama
Ustaz Mohamad Hasbi
President of Persatuan Ulama dan Guru-Guru Agama Islam Singapura (PERGAS), explains the importance of this fund (Malay)
Dr Shamsiah A Karim
CEO of Pergas Investment Holdings (PIH), explains how the fund works (English)
Video of Support by Ustaz Haron Hassan Akhtar
Former HSBC Board Of Syariah Advisors (English)
Video of Support by Ustaz Zulkifli Bin Othman
Director of Andalus Singapore (Malay)
Video of Support by Dr. Hikmatullah Babu Sahib
Former chairman of Shariah Committee, standard Chartered Saadiq Malaysia, PhD in Islamic Jurisprudence (Edin.) , Postdoc Fellow in Islamic Metaphysics (Yale) Academic Fellow IRKH-IIUM (English)
Our scholars (ulama) and our teachers (asatizah) are one of the most important pillars of our society. Today we see that our communities are plagued with many doubts, challenges, and crisis of faith. The need for strong spiritual and religious guidance has become more critical than ever. Not just that, but the very method of delivering the message has also changed as compared to a few years ago. In Singapore, PERGAS has the important role of supporting, developing and empowering the next generation of asatizah with new skills and toolscoupled with traditional training to effectively lead and guide the Singapore Muslim community.
Pergas Endowmen Legasi Ulama (PERLU) is an initiative launched by PERGAS to build a sustainable future for our ulama and asatizah. PERLU is an endowment fund, similar to a cash waqf, where all donations coming in will be locked as capital to be invested under the supervision of PIH. Subsequently, the capital invested allows for returns which will be used for all of the needs of the teachers.
The President of Pergas, Ustaz Mohamad Hasbi Bin Hassan said, “This endowment is vital for the scholars to continue to lead the Muslim community in the face of the many challenges facing us in our current environment.” PERLU serves to help in the learning, development, and enhancing the future-skills of the teachers so they are better equipped. PERLU has been approved by the high council of PERGAS as a Trust fund.
A very good proof of concept of such a fund is the Harvard Endowment Fund. Harvard’s endowment is huge – at $37.1 billion, and is invested in a variety of financial instruments and ventures. The largest university endowment in the world, Harvard uses the profits generated to cover operating costs and programs and to ensure the University will have a permanent source of funds to secure its long-term future.
Similarly, as the endowment grows, so does Pergas’s capacity to fund research into new issues, provide training and other forms of support including financial aid. Your contribution to this campaign will be used to generate income for PERGAS to strengthen and increase its capabilities as the umbrella body for asatizah in Singapore. Your donation will bring benefits for perpetuity, and is an impactful form of sadaqah jariyah. Imagine your contribution helping PERGAS forever to continue developing and supporting more and more asatizah. The ‘return on akhirah’ for such a contribution is immense and will continue even after you pass on, for as long as PERGAS continues to benefit from the PERLU fund..
How Does It Work?
– Donations to this campaign are channeled to PERLU
– The endowment (capital) will be invested in shariah-compliant investments such as: Property, Share/Equity, Business, Venture Capital, Fixed Deposit
– Pergas and Pergas Investment Holdings (PIH) will administer, invest and distribute funds to the beneficiaries
– The funds generated in return will be used for Pergas dakwah activities and the asatizah (teachers). This includes development, education, scholarships and other advocacy efforts.
– Pergas also receives zakat for distribution and also raises necessary funding from time to time. The difference between zakat and endowment fund is that the zakat received must be completely distributed during the year. The endowment on the other hand is a continuous charity (sadaqah jariyah) where the capital will not be used or eroded; however it will be invested to generate income. Only the income from that will be distributed. In this way there will be continuous income to be used for the benefit of the asatizah.
– A strong endowment fund can support and empower our asatizah, facilitate important research and boost ambitious students for years to come.
The Singapore Islamic Scholars and Religious Teachers Association or also known as “PERGAS” (Persatuan Ulama dan Guru-Guru Agama Islam Singapura) is a Singapore based NGO committed to developing local religious leaders in guiding the community. The main areas of focus include asatizah (religious teachers) welfare and development, Islamic education, dakwah outreach and research development. PERGAS Investment Holdings (PIH) is affiliated to PERGAS. It offers services in financial shariah advisory and consultancy, halal advisory, qurban and aqiqah and property management. Click here for more information.