Publication: Perception Of B40 Income Group Regarding Waqf, Wasiyyah And Faraid Planning In Wealth Distribution
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Date
2016
Journal Title
Journal ISSN
Volume Title
Publisher
Malaysian Financial Planning Council
Abstract
The planning of wealth distribution during an individual’s lifetime is an
aspect that must be taken seriously by all Muslims. Delays and failures in the
distribution of wealth can create negative implications from the legal, economic,
religious and social standpoints. In fact, the issue of wealth distribution is not
an isolated issue in the Muslim community due to the fact that every year
there are a growing number of frozen assets. Therefore, the purpose of this
paper is to examine the perception of planning of wealth distribution among
the B40 income group. A survey of 382 respondents was conducted in order
to gauge the perception. The findings of this study found that in the B40
group, individuals who earned RM1,001 - RM2,999 were the majority who
had wrong perceptions towards the need for planning wealth distribution,
followed by individuals who earned RM1,000 and below per month. This
study contributes to the understanding that the B40 income group is the one
that does not plan wealth distribution through waqf, wasiyyah and faraid
mechanisms.
Keywords: Faraid, Islamic Finance, Waqf, Wasiyyah
Description
Keywords
Faraid,, Islamic Finance,, Waqf,, Wasiyyah