Contemporary Islamic Finance

Hunt‐Ahmed, Karen

doi:10.1002/9781118653814

Cited by 7 publications

(2 citation statements)

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“…Meanwhile, the trust property should be spent wisely only for the beneficiaries' benefits and without breaking the trust. When a trustee understands the Islamic estate planning ethics, human relationships will be maintained and blessed by Allah (Ahmed, 2013 4: 29) The verse clearly states that it is forbidden to consume property that is illegally obtained be it the property that is self-collected or under the care of others. Al-Zuhayli (1997) in his translation mentioned that "unjustly" constitutes fraud, misspend, usury, and neglecting the custody of beneficiaries such as orphans.…”

Section: Introductionmentioning

confidence: 99%

Islamic estate planning in the industrial revolution 4.0 era: Issues and challenges

Abdullah

Fariddudin

Muhamad

et al. 2021

JEEIR

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The development of the Industrial Revolution 4.0 has contributed to creating various technologies for economic progress. This includes the field of Islamic estate planning, such as will and trust. However, the technology developed to meet the Muslim community's property planning needs is still in its infancy until now. Therefore, the purpose of this study is to investigate the issues and challenges faced by trust institutions in Malaysia in facing Islamic estate planning in the Industrial Revolution 4.0 era. This study uses a content analysis approach by reviewing and analyzing previous Islamic estate planning studies. To achieve the goals of the study, this study refers to the classical and secondary sources in the field of expert. Furthermore, five official websites from 5 trust institutions; Amanah Raya Berhad (ARB), as-Salihin Trustee Berhad, Wasiyyah Shoppe Berhad, MyAngkasa Berhad and the Islamic Religious Council (Selangor) (MAIN) were analyzed to obtain information on the current will and trust practice. Several representatives of officials from each selected institution were interviewed to obtain more accurate information. The study found that the implementation of Islamic estate planning through digital technology in line with the era of Industrial Revolution 4.0 is still in the early stage, starting only from 2018. This is because its manual implementation through human resources is still required while manual trust documentation is still maintained. Therefore, it is hoped that the trust institutions may provide new mechanisms and fresher innovations in encouraging the community to implement will and trust in line with Industrial Revolution 4.0

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Section: Introductionmentioning

confidence: 99%

Islamic estate planning in the industrial revolution 4.0 era: Issues and challenges

Abdullah

Fariddudin

Muhamad

et al. 2021

JEEIR

View full text Add to dashboard Cite

show abstract

“…(Agha & Sabirzyanov, 2015). Additionally, Al-Rifai & Hunt- Ahmed (2013) mention that this complete reliance in Allah is encouraged after all relevant efforts had been put in to ensure the objective or target could be achieved.…”

Section: …………………………………………………………………………………………………… Introduction:-mentioning

confidence: 99%