New endowment fund for 60-year-old educational charity

The Prophet Muhammad's Birthday Memorial Scholarship Fund (LBKM), which has provided financial support to students of all races and religions since 1965, will launch a new endowment fund targeted at large donors and corporate sponsors to ensure the sustainability of its mission.

- Tham Yuen-C

Announcing this at a dinner to mark the charity's 60th anniversary, LBKM president Syed Harun Alhabsyi, a Nominated MP, said the annual proceeds of the endowment fund will go towards providing bursaries and scholarships to students for many years to come.

For a start, the LBKM will match 50 per cent of each donation of $100,000 and above, up to a maximum matching amount of $1 million in all, said Dr Syed Harun, adding that more details will be revealed in the coming weeks.

The matching amount will be given in the original donor's name, he added.

Since it was set up, LBKM has helped more than 38,000 students with almost $35 million in bursaries, scholarships and grants.

Prime Minister and Finance Minister Lawrence Wong, who was guest of honour at the event on Jan 24, said this spirit of working together for the common good will not only allow the Malay/Muslim community to thrive, but also help Singapore overcome challenges with confidence.