The Implementation Of Hibah Ruqba In Malaysia Asset Management Planning Industry In Accordance To Maqasid Shariah

Hibah ruqba is one of the asset transfer methods being pratied in ageny's asset management planning in Malaysia. Hibah ruqba is onditional where a hibah (gift) to a reipient (an aqad person) shall be reverted to the giver (one other aqad person) if the reipient passes on before the giver. In the present ontext, hibah ruqba an be seen as a solution to resolve problems relating to asset management planning suh as trust funds joint aounts held by Muslims, and as an alternative in resolving onerous problems of estate inheritane administration these days. However, this motion falls short of approval from the relevant Malaysian authorities of its permissibility based on the opinions of the majority Sunni sets inluding the Shafiite, largely due to the element of gharar (unertainty) in oexistene. The objetive of this researh is to study the onept of hibah ruqba from the sholarly perspetive and maqasid shariah. This is a qualitative study. The method of data gathering onsists of doument analysis both from the primary and seondary soures of hibah ruqba. The gathered data is analysed by using desriptive method. The result finds that the rejetion of hibah ruqba is largely due to the assoiated element of gharar, with a manifest that the passing on of the aqad parties is a matter of unertainty. Alas, this arrangement of aqad reates future onflit amongst the rightful heirs of the aqad parties. Hene, hibah ruqba is permissible if it is done in a transparent manner and fulfills the priniple of maqasid shariah along with onsents from both aqad parties (giver and reipient). Hibah ruqba is also seen as adhering to the needs of the Muslims based on the noble intention of maslahah i.e. to protet the properties of the aqad parties.