Streamlining the nomination policy in estate administration for Muslims in Malaysia

Mohd Salim, Wan Noraini and Halim, Akmal Hidayah and Drs Nasrul, Muhammad Amrullah (2024) Streamlining the nomination policy in estate administration for Muslims in Malaysia. IIUM Law Journal, 32 (1). pp. 309-334. ISSN 0128-2530 E-ISSN 2289-7852

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Abstract

32 (1) 2024 IIUMLJ 309 - 334 STREAMLINING THE NOMINATION POLICY IN ESTATE ADMINISTRATION FOR MUSLIMS IN MALAYSIA Wan Noraini Mohd Salim* Akmal Hidayah Halim** Muhammad Amrullah Drs Nasrul*** ABSTRACT Nomination is a process whereby a person names someone to receive the benefit from the nominated estate if the person dies. In Malaysia, the effect of nomination clauses differs from one institution to another institution depending on their governing laws. It is observed that some policies on nomination seem to be inconsistent with the fatwas that a nominee is only a trustee. Hence, this study aims to examine the effect of nomination on the nomination-based products. It is significant to clarify the status of the nominee in each nomination-based product whether the nominee receives the benefit of the policy as the beneficiary or as the trustee. This study also aims to identify issues relating to nomination such as the application of hibah ruqba in takaful. In this study, the qualitative research method was adopted by using library research through the legal analysis of primary data, which includes legislation and case law, as well as secondary data such as journal articles, textbooks, and official documents. Several statutes have been identified as the subject of analysis, including the Islamic Financial Services Act 2013, Financial Services Act 2013, and Employees Provident Fund Act 1991. This study finds that a single federal law governing nomination throughout Malaysia is not feasible due to the existence of various entities. Thus, this study recommends that the relevant statutory provisions be revised in order to streamline the nomination policy in its nomination-based products

Item Type:	Article (Journal)
Uncontrolled Keywords:	Nomination, Administrator, Estate Administration, Takaful, Tabung Haji, Employees Provident Fund
Subjects:	K Law > K720 Property Law K Law > KBP Islamic Law
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Ahmad Ibrahim Kulliyyah of Laws > Department of Islamic Law Ahmad Ibrahim Kulliyyah of Laws Ahmad Ibrahim Kulliyyah of Laws > Department of Civil Law Ahmad Ibrahim Kulliyyah of Laws > Department of Legal Practice
Depositing User:	DR MUHAMMAD AMRULLAH DRS NASRUL
Date Deposited:	20 Jun 2024 08:46
Last Modified:	20 Jun 2024 08:46
URI:	http://irep.iium.edu.my/id/eprint/112685

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