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1 – 3 of 3Norazlina Abd. Wahab, Selamah Maamor, Zairy Zainol, Suraiya Hashim and Kamarul Azman Mustapha Kamal
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…
Abstract
Purpose
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).
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
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.
Originality/value
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.
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Norliza Katuk, Norazlina Abd Wahab and Nur Syaedah Kamis
This paper aims to collect evidence on the issues and challenges in cryptocurrency estate planning and the possible approaches or methods to address them. Then, this paper also…
Abstract
Purpose
This paper aims to collect evidence on the issues and challenges in cryptocurrency estate planning and the possible approaches or methods to address them. Then, this paper also aims to understand Malaysia’s situation compared to global situations and determine how the country could address those challenges.
Design/methodology/approach
This study adapted a standard systematic review protocol named preferred reporting items for systematic reviews and meta-analyses, guided by three research questions: what are the challenges of cryptocurrency estate planning, how do researchers and practitioners address the issues or challenges and how could Malaysians move towards sustainable cryptocurrency estate planning? Relevant documents reported on cryptocurrency estate planning were analysed using thematic analysis.
Findings
The results of this review suggested that the issues and challenges in cryptocurrency estate planning can be described from six aspects: awareness, financial aspects, law, process, security and taxation. On the other hand, the approaches or methods to address these challenges may be categorised into laws, processes and technology. Further, a framework for cryptocurrency estate planning in Malaysia is proposed as an initial step towards a sustainable economy and society in Malaysia.
Research limitations/implications
The state and the use of cryptocurrency are still considered new in most countries globally. Hence, people are yet to be aware of the issues that may arise from it. Nevertheless, cryptocurrency estate planning will soon become an area of interest in which this study could enhance the literature and contribute knowledge to understanding the situation.
Originality/value
This study collected evidence on the issues and the approaches to address cryptocurrency estate planning. This study then focused on the Malaysian perspective by proposing a framework that was not covered by existing studies.
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