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This paper aims to explore the level of hibah knowledge among Muslims in Kedah and investigate its determinants, consisting of education level, education stream, religiosity, social influence and social media.

This study is quantitative in nature. Questionnaires were distributed to collect data from Muslims in Alor Setar, Kedah. In total, 195 questionnaires were collected and data were analyzed using descriptive analysis, correlation analysis and multiple regression analysis.

The study finds that Muslims in Alor Setar, Kedah have good knowledge of hibah. Further, education stream, religiosity, social influence and social media were identified as significant factors that influence their knowledge of hibah.

The first limitation is its narrow focus in surveying Muslims only in Alor Setar, Kedah. The second limitation is the limited number of determinants used in investigating hibah knowledge among Muslims and the techniques used in analyzing the data. Despite these limitations, the study’s findings provide invaluable insights into the factors influencing hibah knowledge among Muslims in Alor Setar, Kedah.

This study provides insights regarding the significant personal factors and environmental factors to increase Muslims’ knowledge of hibah. The link between the Islamic education stream and hibah knowledge provides a clear indication that Islamic education can curb the economic problems caused by the substantial amounts of frozen and unclaimed assets in Malaysia. A significant relationship between the environmental factors (social influence and social media) and hibah knowledge also implies that the government and private agencies related to Islamic estate planning and management may use these significant determinants as part of the marketing strategy to increase the usage of hibah as an alternative tool for estate planning.

This study contributes to a better understanding of Muslims’ knowledge about hibah. The government and related agencies in Islamic estate planning and management can now gain better insights into Muslims’ level of knowledge about hibah and the factors influencing their knowledge of hibah as an effective tool for Islamic estate planning and management. Hence, more effective strategies can be recommended to enhance the knowledge of Muslims on hibah. The findings of this study should be of value to the government in its effort to address the increasing number of frozen estates in Malaysia.

This paper aims to re-evaluate and thus recommends possible ways in improving the current practice of hibah trust in Malaysia.

This study conducts a thorough and critical review on relevant literature on Islamic wealth management and estate distribution. Besides, the current practice and application of hibah trust by the Malaysian trustee companies such as Amanah Raya Berhad and As-Salihin Trustee Berhad is analyzed based on information gathered from their publications and direct consultation.

Based on the comparison made between hibah trust and its conventional counterpart, living trust, this study found that that the hibah trust product mirrors the conventional living trust, which provides a high degree of freedom to the benefactor to decide on the distribution of his wealth without taking into consideration the interest of the eligible heirs under farai’d. Nevertheless, it is undeniable that the practice of hibah trust would be able to expedite the lengthy and complex procedures of inheritance, reduce administrative costs and avoid legal impediments and inheritance tax.

This paper proposes a comprehensive framework for an improved asset distribution under hibah trust within the Malaysian Islamic wealth management industry by highlighting the significance of fara’id and wasiyyah rules. This proposed framework of hibah trust would become a useful reference for the policy makers in designing a dedicated regulation or legal provisions in the established laws that will govern the practice of hibah trust in Malaysia.

The novelty of this paper lies in highlighting the importance of adhering to the law of Islamic inheritance rules as ordained by Allah s.w.t in structuring contemporary Islamic estate planning instruments such as hibah trust, which is not evident in the current practice.

The purpose of this paper is to study the differences in fatwa amongst official fatwa institutions in Malaysia comprising the State Mufti’s Departments (SMDs), the National Fatwa Committee Muzakarah (NFCM) and the National Bank Shariah Advisory Council (NBSAC) regarding the conditional gift issue and to propose a uniformed fatwa by taking an approach of celebrating views of all the official fatwa institutions involved.

The methodology used for this study is qualitative; data was collectedthrough library research and field studies.[AQ1] The library research was accomplished by examining books, statutes and related circulars, while field studies were conducted through unstructured interviews with eight Shariah (Sharia) officers and two academicians from SMDs, NFCM, NBSAC and public universities.

The findings of the study found that the conditional hibah (ruqba and 'umra) is valid as far as gifting is concerned, while the conditions pertaining to it are null and void. The findings also found that the concept of mura’ah al-khilaf and ma’alat al-af’al can be practised by applying conditional hibah to maintain maslahah, as provided under the concept of maqasid al-Shariah. Hence, this study proposed that formal fatwa institutions consisting of SMDs, NFCM and NBSAC issue a comprehensive guideline in contracting conditional hibah by providing an explicit provision on the recognised and different opinions about the said hibah.

The study analyses the differences of opinions of the official fatwa on conditional hibah issued by SMDs, NFCM and NBSAC based on the discipline of usul al-fiqh. It is found that conditional hibah is not allowed in Islamic law. It also found that conditional hibah granted by the NBSAC is not in adherence to the strict permission granted by Islamic law. Therefore, taking into consideration all the fatwas issued by the fatwa bodies, the researchers proposed to celebrate all official fatwas using the method of mura'ah al-khilaf and ma’alat al-af'al.

This study aims to investigate and propose the potential practice of hibah al-ʿumra as a Shari‘ah-compliant policy that would encompass the disbursement of death benefits and facilitate their smooth distribution among the projected beneficiaries of the family Takāful.

This study uses a qualitative approach. It conducts semi-structured interviews with different Takāful practitioners in Malaysia. This study also consulted a few Shari‘ah scholars regarding their opinions on the application of hibah al-ʿumra in disbursing family Takāful benefits. The thematic analysis is carried out to analyse qualitative data.

From both Shari‘ah and the relevant industry perspectives, the notion of hibah al-ʿumra has a great potential to disburse the family Takāful benefits to the Takāful participants or nominated beneficiaries. Given the conditional nature of hibah in Takāful, it is argued that there is a scope for imposing some conditions to make hibah al-ʿumra a life grant gift. This is expected to play a significant role in resolving the issues relating to the disbursement of family Takāful benefits among the beneficiaries, where it becomes irrevocable.

In the current practice of family Takāful, in the event of the recipient’s death or divorce, the application of absolute hibah results in the disbursement of Takāful benefits among undesirable beneficiaries. In contrast, in hibah al-ʿumra, it is expected that subject to a condition of withdrawal, its practice would help manage any unwanted situation if other potential beneficiaries are nominated upon signing the agreement at the outset.

This study is expected to contribute to help channel the family Takāful benefits into the desired beneficiaries being the proposed hibah al-ʿumra as a form of conditional hibah. Besides, this type of hiba can be treated as a solution in any adverse situation.

This study aims to analyse the mechanism of trust instrument from a Shariah point of view. Analysis of the mechanism would determine the extent to which its implementation can resolve estate planning issues such as frozen estate and the issue of naming beneficiaries under the age of 18.

This is a qualitative study method through library research. To explore the mechanism of trust instrument, an in-depth interview with five participants using purposive sampling and analyses of documents were used. The selection of this sample allows the researcher to obtain specific data in their field of expertise. Therefore, two officers from the Trust Administration Department of Amanah Raya Berhad (ARB) and three Shariah advisors from ARB (MPS ARB) were interviewed to find out the mechanism of trust instrument from the Shariah perspective. The researcher also referred to the trust deed documents, ARB company policies, field case studies such nomination cases and trust accounts, articles and court cases.

The trust instrument meets Shariah requirements even though it is based entirely on the Civil Law. The comprehensive and flexible features of trust deeds can help donors to plan systematically during their lifetime.

This study only focuses on the trust instruments that are currently being implemented in the ARB. Five trust products were analysed to achieve the objectives of the study, namely, the Normal Trust, Safecare and Safecare Premium, Takaful Care, Hibah (literally “gift”) as well as Trust and Declaration of Hibah.

The implementation of trust instrument at an early stage can ensure the property is well managed through a trust deed, guarantee the life of the beloved heirs after the death of the donor and prevent the property from being frozen.

This study comprehensively describes the trust instrument from the Shariah perspective and its implementation mechanism in the industry.

A family takaful certificate is subscribed by a takaful participant for the purpose of preparing financial support for his dependants after his death. The takaful benefits could then be made payable to a nominee named as the beneficiary under conditional hibah (gift). In this respect, the participant is free to decide to whom the benefits are to be given since the law is silent as to the criteria of the beneficiary. This situation gives rise to the issue on whether such a practice fulfils the objectives of Sharīʿah, especially when the nominated beneficiary is not the sole dependant of the deceased participant. Therefore, this research aims to evaluate the status of family takaful benefits, analyse the rules of conditional hibah from the Sharīʿah perspective and propose solutions whenever necessary. The research adopts doctrinal analysis by examining existing primary and secondary materials including statutory provisions and other legal and non-legal literatures. The study predicates that the application of conditional hibah to the whole benefits does not reflect the objectives of Sharīʿah if determination on the status of the benefits is solely based on the nomination made by the participant. It is observed that takaful benefits payable from the Participant’s Account should be considered as the deceased’s estate and must be distributed according to fara’id or Islamic law of inheritance. Conversely, the sum covered payable from the Participant’s Special Account may be paid to the deceased’s dependants whose criteria are determined by the Sharīʿah Advisory Council as the highest authority in Islamic financial matters.

This study aims to investigate religiosity and entrepreneurial motivation roles in the goal-specific, involving Muslim students’ entrepreneurial intention and self-efficacy. Besides, it examines the robustness model based on group context.

Partial least square structural equation modelling is employed to examine 502 data collected from Muslim students in Indonesia through an online survey. Meanwhile, partial least square multigroup analysis tests the robustness model.

Religiosity plays a powerful role in increasing goal-specificity. Meanwhile, entrepreneurial motivation and self-efficacy perform as full mediations in the pathway mechanism of religiosity's effect on entrepreneurial intention.

The current study is conducted based on the previous recommendations and contradictions. Therefore, it clarifies and develops a study on the role of religiosity and entrepreneurial motivation in the goal-specific motivation of Muslim students.

To increase the goal-specificity of entrepreneurship activities, policymakers in the ministry of education and universities must implement and revitalize Muslim students' understanding of the relationship between religiosity and entrepreneurship.

This study defines the role of religiosity in goal-specific, especially Muslim students’ entrepreneurial intentions, by gender, faculty/department and age. Furthermore, it completes the opportunity for research agendas on the relationship between religiosity, entrepreneurial motivation, self-efficacy and entrepreneurial intention.

This paper aims to develop the best practices of Islamic estate planning for Muslims. Islamic estate planning is a fixed proposal for the management and outlook of an individual’s assets throughout their life and upon their passing, created by means of existing Islamic estate planning tools, for instance, farāʾiḍ (inheritance), waṣiyyah (will), hibah (gift) and waqf (endowment).

The paper used an interview method to obtain information on the best practices of Islamic estate planning. Semi-structured interviews were conducted with the respondents and estate planning providers in the northern region of Peninsular Malaysia. The data gathered was analysed using thematic analysis which involved five phases to construct the best practices of Islamic estate planning.

The paper identifies important elements in Islamic estate planning. The elements were outlined as the crucial things that Muslims should do to plan for intergenerational transfer and earning a good share in the hereafter.

The first limitation of the paper is that the best practices were developed based on a qualitative method. There is no evidence of its validity, which is a gap that can be explored in the future. Second, it involves the perceptions of two types of respondents (individuals and Islamic estate planning providers), which may be broadened to other related stakeholders such as regulators, in future studies.

This paper presents a framework of best practices of Islamic estate planning, it being one of the first studies to do so, which is not only useful and relevant for Malaysian Muslims but also for Muslims in other countries.

This chapter explores the historical development of shari’ah governance infrastructures in the Malaysian landscape, pre- and post-Islamic Financial Services Act 2013 (IFSA) and its implications on the industry. This chapter analyzed two approaches developed in the shari’ah governance, namely, the inclusivity and uniformity approach. Inclusivity approach showed that the shari’ah compliance responsibility is shared inclusively by the shari’ah committee together with the institution’s top management. While the uniformity approach showed that the end-to-end shari’ah compliance is achieved through issuance of shari’ah standards that can be easily related by the practitioners into their banking operations and business. The coherence implementation of these approaches has enabled another important stakeholder, the judiciary to have more clarity and certainty in dealing with matters pertaining to Islamic banking and finance. Consumers’ trust and confidence in the financial sector is thereby secured and sustained, hence providing financial stability within the industry, which meets with the expectation and mandate given to IFSA.

This study aims to develop a Sharīʿah-compliance rating mechanism for the Islamic financial services industry (IFSI), with a special focus on banking. The banking sector is taken as the area of focus due to its leadership role in the volume of global Sharīʿah-compliant assets.

The objectives of the Islamic financial system (IFS) are selected as the basis for ratings. A range of performance indicators (leading to achievement of the objectives) is grouped into four broader categories and used in the study to allocate scores with a sum total of 100. Special considerations – including the amount of resources required in performing an activity, suitability of prevailing business conditions, the degree of compulsion/discretion in performing a task and linkage with the essence of the IFS – were taken into account in the allocation of scores.

This study groups multiple performance measures into four categories, including portfolio construction (deposits mechanism, participatory and asset-based modes of financing), access to finance (service to the less-privileged and sector screening), reputation (disclosures and stakeholders’ survey) and Sharīʿah governance (Sharīʿah supervision and controls, charitable operations, human resources, product development and organization). The Portfolio, Audit, Reputation and System (PARS) rating system is then developed.

A Sharīʿah-compliance rating system is helpful in measuring the progress towards goal achievement of the IFS and in gaining stakeholders’ trust. It is also important for Sharīʿah boards and regulators in policy formulation, for management in addressing weaknesses and taking corrective measures and potentially for standard-setting bodies.

This study presents a comprehensive quantitative Sharīʿah-compliance rating mechanism, taking into consideration the objectives of the IFS – equitable distribution of wealth and financial stability, in addition to Sharīʿah-compliance in operations. Development of Sharīʿah-compliance quality ratings for Islamic banking is essential to gain customers’ trust; the suggested methodology is thus a contribution to the literature on Islamic finance.