Wasiyyah adoption and its barriers among Malaysian muslims

Islamic inheritance system is usually explained within the conceptual framework of i.e. Faraidh, Wasiyyah (Will) and Hibah (gift). In Islam, there is no restriction on the transfers of wealth during the lifetime, however the distribution of estates upon death is strictly subjected to Faraidh and Was...

Full description

Saved in:

Bibliographic Details
Main Author:	Hamid Ghul, Zahirah
Format:	Thesis
Language:	English
Published:	2015
Subjects:	Wills (Islamic law)
Online Access:	http://psasir.upm.edu.my/id/eprint/66479/1/GSM%202015%2012%20upmIR.pdf
Tags:	Add Tag No Tags, Be the first to tag this record!

id	my-upm-ir.66479
record_format	uketd_dc
spelling	my-upm-ir.664792019-01-24T00:38:51Z Wasiyyah adoption and its barriers among Malaysian muslims 2015-03 Hamid Ghul, Zahirah Islamic inheritance system is usually explained within the conceptual framework of i.e. Faraidh, Wasiyyah (Will) and Hibah (gift). In Islam, there is no restriction on the transfers of wealth during the lifetime, however the distribution of estates upon death is strictly subjected to Faraidh and Wasiyyah rules. The salient feature of Faraidh on inheritance is subjected to a predetermined quantum of shares of the eligible heirs. Wasiyyah, on the other hand, is limited up to one-third of the estates’ value and is only allowed to be given to non-heirs. Wasiyyah can only be given to heirs with the consent of all eligible heirs. Islamic estate planning and Islamic inheritance system renders a new dimension in the Islamic economy and finance. Making a Wasiyyah (Will) is the more crucial element of the system. As such, this study selects Wasiyyah, which carries the meaning of a Will, as the main focus of this study. This study aims to investigate the factors that influence Wasiyyah Adoption and its barriers among Malaysian Muslims. The research model posits relationship between four factors: a) knowledge b) life events c) wealth management d) institutions (Wasiyyah writing providers).All this four factors are analysed using inferential analysis. Meanwhile, the barriers in Islamic inheritance distribution are analysed based on descriptive analysis. The theoretical model of this study is based on the Life Cycle, Altruism and Dynasty Model. In addition, Islamic theory of wealth is added as one of the theoretical underpinnings of this research. This research uses the self-administered survey method using electronic mail (email) questionnaires and self-administered questionnaire as its data collection method. About 300 questionnaires were distributed in Selangor and Klang Valley and only 170 questionnaires were returned. Another 61 were gathered from the online survey. Total of data gathered were 231 respondents. The data was analysed via Reliability, Validity, Descriptive and Binary Logistic Regression using SPSS version 20.0. The findings from this study show that knowledge and wealth management have a significant effect towards Wasiyyah practices while life events and institutions have no significant effect towards Wasiyyah practices. This indicates that the more knowledge one has about Islamic inheritance, the higher the intention to make a Wasiyyah is. Hence the higher the planning of wealth is, the higher the intention to make a Wasiyyah is. In terms of barriers in Islamic inheritance distribution, the biggest obstacle among all the factors are 1) estate management and 2)lengthy distribution process. This study offers several implications for both the academic and industry. It has covered the identified gaps and added value to the field of Wasiyyah practices and inheritance distribution. Wills (Islamic law) 2015-03 Thesis http://psasir.upm.edu.my/id/eprint/66479/ http://psasir.upm.edu.my/id/eprint/66479/1/GSM%202015%2012%20upmIR.pdf text en public masters Universiti Putra Malaysia Wills (Islamic law)
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English
topic	Wills (Islamic law)
spellingShingle	Wills (Islamic law) Hamid Ghul, Zahirah Wasiyyah adoption and its barriers among Malaysian muslims
description	Islamic inheritance system is usually explained within the conceptual framework of i.e. Faraidh, Wasiyyah (Will) and Hibah (gift). In Islam, there is no restriction on the transfers of wealth during the lifetime, however the distribution of estates upon death is strictly subjected to Faraidh and Wasiyyah rules. The salient feature of Faraidh on inheritance is subjected to a predetermined quantum of shares of the eligible heirs. Wasiyyah, on the other hand, is limited up to one-third of the estates’ value and is only allowed to be given to non-heirs. Wasiyyah can only be given to heirs with the consent of all eligible heirs. Islamic estate planning and Islamic inheritance system renders a new dimension in the Islamic economy and finance. Making a Wasiyyah (Will) is the more crucial element of the system. As such, this study selects Wasiyyah, which carries the meaning of a Will, as the main focus of this study. This study aims to investigate the factors that influence Wasiyyah Adoption and its barriers among Malaysian Muslims. The research model posits relationship between four factors: a) knowledge b) life events c) wealth management d) institutions (Wasiyyah writing providers).All this four factors are analysed using inferential analysis. Meanwhile, the barriers in Islamic inheritance distribution are analysed based on descriptive analysis. The theoretical model of this study is based on the Life Cycle, Altruism and Dynasty Model. In addition, Islamic theory of wealth is added as one of the theoretical underpinnings of this research. This research uses the self-administered survey method using electronic mail (email) questionnaires and self-administered questionnaire as its data collection method. About 300 questionnaires were distributed in Selangor and Klang Valley and only 170 questionnaires were returned. Another 61 were gathered from the online survey. Total of data gathered were 231 respondents. The data was analysed via Reliability, Validity, Descriptive and Binary Logistic Regression using SPSS version 20.0. The findings from this study show that knowledge and wealth management have a significant effect towards Wasiyyah practices while life events and institutions have no significant effect towards Wasiyyah practices. This indicates that the more knowledge one has about Islamic inheritance, the higher the intention to make a Wasiyyah is. Hence the higher the planning of wealth is, the higher the intention to make a Wasiyyah is. In terms of barriers in Islamic inheritance distribution, the biggest obstacle among all the factors are 1) estate management and 2)lengthy distribution process. This study offers several implications for both the academic and industry. It has covered the identified gaps and added value to the field of Wasiyyah practices and inheritance distribution.
format	Thesis
qualification_level	Master's degree
author	Hamid Ghul, Zahirah
author_facet	Hamid Ghul, Zahirah
author_sort	Hamid Ghul, Zahirah
title	Wasiyyah adoption and its barriers among Malaysian muslims
title_short	Wasiyyah adoption and its barriers among Malaysian muslims
title_full	Wasiyyah adoption and its barriers among Malaysian muslims
title_fullStr	Wasiyyah adoption and its barriers among Malaysian muslims
title_full_unstemmed	Wasiyyah adoption and its barriers among Malaysian muslims
title_sort	wasiyyah adoption and its barriers among malaysian muslims
granting_institution	Universiti Putra Malaysia
publishDate	2015
url	http://psasir.upm.edu.my/id/eprint/66479/1/GSM%202015%2012%20upmIR.pdf
_version_	1747812387030827008

Wasiyyah adoption and its barriers among Malaysian muslims

Similar Items