Original Paper : Perception of B40 Income Group Regarding Waqf, Wasiyyah and Faraid Planning in Wealth Distribution

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Original Paper : Perception of B40 Income Group Regarding Waqf, Wasiyyah and Faraid Planning in Wealth Distribution Faraid, Islamic Finance, Waqf, Wasiyyah

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.

http://mfpc.org.my/wp-content/uploads/images/JWMFP/2016/Perception%20of%20B40.pdf