Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law

Nomination is originally a means to expedite the process of the administration of a deceased Muslim’s estate. With nomination, a nominee therefore has a legal right to claim the property of the deceased from the relevant financial institution such as Insurance companies, Takaful companies, Tabung Ha...

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Main Author:	Abdullah, Mohamad Asmadi
Format:	Article
Language:	English
Published:	Sweet & Maxwell Asia 2011
Subjects:	KBP Islamic Law
Online Access:	http://irep.iium.edu.my/3309/ http://irep.iium.edu.my/3309/ http://irep.iium.edu.my/3309/1/The_law_review_2011Article__on_Nomination.pdf

id	iium-3309
recordtype	eprints
spelling	iium-33092016-11-08T08:19:59Z http://irep.iium.edu.my/3309/ Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law Abdullah, Mohamad Asmadi KBP Islamic Law Nomination is originally a means to expedite the process of the administration of a deceased Muslim’s estate. With nomination, a nominee therefore has a legal right to claim the property of the deceased from the relevant financial institution such as Insurance companies, Takaful companies, Tabung Haji and Employee Provident Fund. However, there is a question pertaining to the status of the nominee whether he is a trustee or a beneficiary. The fatwā issued by the National Fatwa Committee suggest that a nominee acts only as a trustee. However, looking into the decisions of the civil courts as well as the Shariah court, a nominee could be a beneficiary. This research is undertaken to examine the nature of the nomination process and to identify any similarities and differences between nomination, wasiyyah and hibah according to the Islamic law in order to determine whether a nominee is a trustee or a beneficiary. Sweet & Maxwell Asia 2011 Article PeerReviewed application/pdf en http://irep.iium.edu.my/3309/1/The_law_review_2011Article__on_Nomination.pdf Abdullah, Mohamad Asmadi (2011) Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law. The Law Review, 4. pp. 697-708. ISSN 1985-0891 http://www.sweetandmaxwellasia.com.my/products/The-Law-Review.pdf?ts=1272868375974
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	KBP Islamic Law
spellingShingle	KBP Islamic Law Abdullah, Mohamad Asmadi Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
description	Nomination is originally a means to expedite the process of the administration of a deceased Muslim’s estate. With nomination, a nominee therefore has a legal right to claim the property of the deceased from the relevant financial institution such as Insurance companies, Takaful companies, Tabung Haji and Employee Provident Fund. However, there is a question pertaining to the status of the nominee whether he is a trustee or a beneficiary. The fatwā issued by the National Fatwa Committee suggest that a nominee acts only as a trustee. However, looking into the decisions of the civil courts as well as the Shariah court, a nominee could be a beneficiary. This research is undertaken to examine the nature of the nomination process and to identify any similarities and differences between nomination, wasiyyah and hibah according to the Islamic law in order to determine whether a nominee is a trustee or a beneficiary.
format	Article
author	Abdullah, Mohamad Asmadi
author_facet	Abdullah, Mohamad Asmadi
author_sort	Abdullah, Mohamad Asmadi
title	Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
title_short	Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
title_full	Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
title_fullStr	Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
title_full_unstemmed	Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law
title_sort	islamic wealth management: is the nominee a trustee or beneficiary? an analysis on the application of the nomination instrument in the disposition of property in malaysia from the perspective of islamic law
publisher	Sweet & Maxwell Asia
publishDate	2011
url	http://irep.iium.edu.my/3309/ http://irep.iium.edu.my/3309/ http://irep.iium.edu.my/3309/1/The_law_review_2011Article__on_Nomination.pdf
first_indexed	2023-09-18T20:11:05Z
last_indexed	2023-09-18T20:11:05Z
_version_	1777407482549764096

Islamic wealth management: is the nominee a trustee or beneficiary? An analysis on the application of the nomination instrument in the disposition of property in Malaysia from the perspective of Islamic law

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