Role of Waqf in Enhancing Muslim Small and Medium Enterprises (SMEs) in Singapore

The research aims to develop a waqf-based model for application to Muslim small medium enterprises (SMEs) in Singapore, which benefits the general society and the Muslim community in particular. At the outset, the research will show how the present Islamic Financial Institutions in Singapore are deficient in their social attributes. The research will then elaborate on how the proposed waqf-based model is able to plug this social gap. The research will also consider the project management of conventional SMEs in Singapore and point out the obstacles and factors that cause the Muslims to shy away from these projects. This research will also highlight the previous two Muslim co-operatives in Singapore namely Amanah Saham Mendaki (Mendaki Growth Fund) and Ufuk Mendaki which had failed and the lessons to be learnt in applying the waqf-based model. In particular, considerations like transparency, reputation, accountability, credibility, good collaboration, productivity, risk management and S