HIBAH IN TAKAFUL BENEFIT: ISSUES AND SOLUTIONS
This paper examined the validity of executing hibah in Participant Investment Fund (PIF), upon occulrence of certain event such as participant's death, whether it should take effect after participant dies or during the lifetime of the participant. This paper will also conduct an empirical st...
| Main Authors: | , , |
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| Format: | Conference or Workshop Item |
| Language: | English English |
| Published: |
2017
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/73343/ http://irep.iium.edu.my/73343/1/dr%20nan%20presentation%20sijil%203.pdf http://irep.iium.edu.my/73343/2/dr%20nan%20presentation%203.pdf |
| Summary: | This paper examined the validity of executing hibah in Participant Investment Fund (PIF),
upon occulrence of certain event such as participant's death, whether it should take effect
after participant dies or during the lifetime of the participant. This paper will also conduct an
empirical study related to the issues in order to examine the theoretical aspects relevant to the
practice of mkaful industry. Besides, this study only focuses on the family takdful plut
because it is related to death. For this research, the researcher adopted semi-structured
interviews because this type of interview is able to collect both qualitative and quantitative
data. The researcher has conducted interview session with I 7 Shar|'ah advisors, ll SharT'ah
officers and 3 takaful experts at eleven talatful operators in Malaysia. With regards to the
issue of hibah, all takaful operators in Malaysia already applied hibah distribution and a
nominee can be considered either as an executor or a beneficiary in nomination. Even though
there are some Shart'aft scholars disagreed with the implementation of hibah ruqba, the
researcher found that hibah ruqba is relevant to be applied in nomination. In addition, the
main contribution of this study is, to facilitate or monitor the application of hibah ruqba by
all mkaful operators in Malaysia. |
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