This book simplifies the schema and the reasoning of the Maqasid Al’ Syariah, which in simple terms is the perspective, interpretation, and application of the teachings and practices as ordained by the Holy Qur’an, the Sunnah, and the Ahadith in relation to Money and its Islamic Worldly views, its relevance to Islamic Social Finance as a means of poverty eradication and Wealth redistribution [Zakat, Sadaqah, Infaq, and Waqf] it’s correlation to the Islamic Wealth Cycle of Islamic Wealth Creation and Accumulation [Halal earnings], Islamic Wealth Preservation [Takaful], Islamic Wealth Purification [Zakat and Sadagah], and Islamic Wealth Distribution [Faraid, Wassiyah, and Hibah]. The Customary practices of Harta Sepencarian and Adat as a tool for Islamic Wealth Distribution is also addressed for the reader’s insight into these matters.
The book proceeds to simplify these practices of the Magasid Al’ Syariah and its harmonious views towards the Islamic charitable endowment of Waqf [The Islamic Trust], Takaful [The Islamic Insurance], and the Islamic concepts of Justice in financial practices through the ideology of Shared Profits and Losses via the Islamic Financial instruments or models of Musharakah, Murabaha & Bai’ Al Inah [among others} as found in Islamic Finance and then proceeds to elucidate on the subject of Rahn in Ar’ Rahnu (Islamic Pawnbroking) and it’s the role in Islamic Micro and Social finance.
In a practical, clear, and reader-friendly manner, the book also sets out the similarities and differences between all these Islamic principles to the conventional principles of the Wealth Management Cycle, Inheritance [Wills, Probate, and Letters of Administration], Insurance, Trust law [Living Trusts], Banking, and Pawnbroking. Each of these topics is then applied to the relevant disruptive transformations that have been brought about by the IR 4 [The 4th Industrial Revolution] and its applicability to Fintech [Financial Technology] and The Islamic Waqf Ahli [Family Office], to name a few, as they are found and applied within the current and given regulatory frameworks of Malaysia, The Republic of Singapore and The Kingdom of Brunei Darussalam. The book is also replete with the relevant statutory provisions of law within these said jurisdictions.
It has been prepared as a practical reference tool for the reader who may be Students, Professionals in the Wealth Management field, Bankers, insurers, Legal Practitioners, in-house counsels, and Ali who are personally interested in these subject matters for personal or professional enhancement.
The book indeed, eagerly awaits the reader to unlock the Wealth of information residing within it.
- Appreciate the concept of Wealth in Islam
- Identify these concepts in the sphere of the Wealth Management Industry
- Associate with these principles in their Islamic and Conventional sense
- Be proficient with the respective Regulatory Frameworks and Legislation that are applicable to the Wealth Management industry in Malaysia, Singapore, and Brunei
- Apply these concepts to the everyday practice of Islamic and Conventional Wealth Management in Malaysia, Singapore, and Brunei
Table of Contents:
Chapter 1 The Concept of Money in Islam
Chapter 2 Wealth, Poverty, and Social Finance in Islam
Chapter 3. Conventional Wealth Management
Chapter 4 Conventional Wealth Distribution The Law of Inheritance for Non-Muslims [Conventional Estate Planning] West Malaysia
Chapter 5 Islamic Wealth Management & The Maqasid AI’ Syariah
Chapter 6 Islamic Wealth Creation & Islamic Wealth Accumulation
Chapter 7 Islamic Wealth Preservation
Chapter 8 Islamic Wealth Purification
Chapter 9 Islamic Wealth Distribution
Chapter 10 Islamic & Conventional Wealth Distribution
– The Law of Inheritance: Muslim & Non-Muslims
– [Syariah & Conventional Estate Planing]
– The Republic of Singapore
– The Kingdom of Brunei Darussalam & East Malaysia
Chapter 11 Women in Islamic Societies & Islamic Wealth Management
Chapter 12 The Islamic Waqf & The Conventional Trust A Comparison
Chapter 13 “Adat” (customs and Conventions) as a Tool for Ismaic Wealth Distribution Introduction
Chapter 14 The Family Office & Waqf Ahli A Comparison
Chapter 15 Digital Wealth Management
Chapter 16 Fintech
Chapter 17 The Principles of Islamic Banking & Finance
Chapter 18 Ar’Rahnu: Islamic Pawnbroking Introduction