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Islamic Wealth Distribution
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Islamic Wealth Distribution
The methodologies of transferring assets or wealth in Islam
What is Faraid ?
Islamic Law of Inheritance is the division of the property of a Muslim who has died and did not leave a will before his death.
It applied to the assets of a deceased Muslim which have not been given away under the deceased’s Will (Wasiat) and which do not come within the description of any of the “excluded assets”
(a) Property held in a joint tenancy:
(b) Nominated Central Provident Fund (CPF) monies
(c) Nominated life insurance policy benefits/payouts
(d) Harta sepencarian or assets jointly acquired by a deceased Muslim and his/her spouse
(e) Assets given away under a Will
Faraidh
Wasiat
Hibah
Wakaf
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