Contributing factors to will adoption among urban Muslims community in Klang Valley

Abstract

A will is a financial management instrument after one’s death. Majority of Muslims in Malaysia are aware and familiar with the term Islamic ‘will’. However, the number of Muslims who write a will is very low. Studies have concluded, the reluctance factors to write a will were due to a) lack of knowledge, b) religious factor and c) financial obligation. Therefore, it is the interest of the researchers to investigate the relationships of these three contributing factors towards will adoption among urban Muslim community in Klang Valley. The paper adopts a quantitative method of research design, which utilises descriptive analysis, correlation analysis and regression analysis to analyse the raw data. The results show all the independent variables have positive relationship with the dependent variable, in particular a strong significant relationship for knowledge. Thus, the paper suggests that any Muslims who are aware and has knowledge should write a will regardless of their age. In addition, writing a will before one’s death provides a peace of mind to that person.

Evaluating the Bookkeeping Practices of Muslim Traders in the Context of Islamic Inheritance

“…For example, in Malaysia, some estate planning companies and financial institutions, such as As-Salihin (estate planning company), Bank Muamalat Malaysia Berhad, Amanah Raya Berhad and Bank Islam Malaysia Berhad render services with respect to will drafting, documentation and execution (Mohammad, 2015). It is highly recommended that Muslims, irrespective of their ages, should document their waṣiyyah in written form with the view to having peace of mind because a person can die at any age (Abdullah et al, 2017). Proper documentation would make it possible to implement it as intended by the deceased.…”