Factors Influencing the Increase of Unclaimed Property Among Muslims in Klang Valley

This study addresses the rising issue of unclaimed property in Malaysia, which has been increasing annually. A key cause identified is the failure of many Muslims to plan their estates using Islamic instruments like *wasiyyah*, *hibah*, and *waqf*, instead relying on *faraid* for inheritance distribution. Previous research suggests hesitancy in adopting Islamic estate planning tools. The study seeks to identify factors influencing the rise of unclaimed property, focusing on awareness, incentives, application complexity, and legal issues. A quantitative approach was used, with data collected through face-to-face questionnaires from 280 Muslim respondents aged 25 and above. The data were analyzed using PLS-SEM. Results revealed significant correlations between awareness, incentives, and legal issues with unclaimed property, while complexity did not have a notable impact. This study contributes to the limited research on unclaimed property in Malaysia and offers valuable insights for government and state authorities to develop strategies to address the problem among Muslims.

Authors

Publication Details

Journal
Information Management and Business Review
Published
2024-10-05
DOI
https://doi.org/10.22610/imbr.v16i3(i)s.4081
Primary Topic
Islamic Finance and Banking Studies
Type
article
Field-Weighted Citation Impact
0.00
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article

Factors Influencing the Increase of Unclaimed Property Among Muslims in Klang Valley

Maryam Jameelah Hashim, Mohd Rahim Khamis, Rabiatul Husna Zahari, Seri Nurnazifa Aida Hasnon
Information Management and Business Review
Islamic Finance and Banking Studies
article

Factors Influencing the Increase of Unclaimed Property Among Muslims in Klang Valley

Maryam Jameelah Hashim, Mohd Rahim Khamis, Rabiatul Husna Zahari, Seri Nurnazifa Aida Hasnon
article en

Abstract

This study addresses the rising issue of unclaimed property in Malaysia, which has been increasing annually. A key cause identified is the failure of many Muslims to plan their estates using Islamic instruments like *wasiyyah*, *hibah*, and *waqf*, instead relying on *faraid* for inheritance distribution. Previous research suggests hesitancy in adopting Islamic estate planning tools. The study seeks to identify factors influencing the rise of unclaimed property, focusing on awareness, incentives, application complexity, and legal issues. A quantitative approach was used, with data collected through face-to-face questionnaires from 280 Muslim respondents aged 25 and above. The data were analyzed using PLS-SEM. Results revealed significant correlations between awareness, incentives, and legal issues with unclaimed property, while complexity did not have a notable impact. This study contributes to the limited research on unclaimed property in Malaysia and offers valuable insights for government and state authorities to develop strategies to address the problem among Muslims.

Information Management and Business ReviewVol. 16(3(I)S)
Sustainable cities and communities
Openalex Percentile: Top 70%
Islamic Finance and Banking Studies
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