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What is the difference between nominating madrasah as compared to nominating Wakaf Masyarakat Singapura or Wakaf Ilmu in my CPF/insurance nomination?
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When you nominate a madrasah or masjid as a beneficiary in your CPF nominations, the funds disbursed to these recipients will be a one-time transfer by the CPF Board upon your demise.
On the other hand, if you nominate Wakaf Ilmu and/or Wakaf Masyarakat Singapura, the funds will be allocated to a collective cash wakaf pool. This pool is then invested in Syariah-compliant instruments, and the returns of investments (ROI) generated from these investments are disbursed to the beneficiaries, used to support religious institutions, advance students and asatizahs, and contribute to future social and community initiatives.
Take action today, leave your legacy, and support the causes that matter to you. For further information, visit www.OurWakaf.sg.
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