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Resources » Articles » Beliefs
Economics and Inheritance
Written by Mufti Afzal Hoosen Elias
Economics
The economical system of Islaam ensures:-
a. that wealth circulates amongst the people;
b. that the rich do not become rich nor the poor poorer;
c. that the poor and needy are cared for;
d. that there is no exploitation or monopolisation;
e. that an equatable standard of living is maintained while providing room for a free open market enterprise system.
f. a simple, non-elaborate and inexpensive method of burial.
Inheritance
Distribution of the Estate:-
When a person passes away none of his heirs can demand a specific asset, such as the car, shop, or house of the deceased for himself. Every heir has a share in every asset. A process of bartering ones share in lieu of another ones can be adopted after such shares are determined.
Upon a persons passing away:
1. All stock and assets are translated into cash value.
2. His burial expenses, debts, outstanding dowry(mehr) to his wife are paid immediately.
3. If he has desired that a compulsory pilgrimage be performed on his behalf, then up to one third of his estate is set aside to fulfil his desire.
4. The same rule would apply to the missed fast and prayer. For every missed fast and salaat an amount equivalent to the Sadaqatul fitr amount of that year has to be given.. Witr salaat is considered to be an individual salaat. This money is given to the poor.
5. Then, and only then, if there is anything left, can the balance of the estate be distributed.
The people who would always inherit:
a. Children
b. Parents
c. Husbands
e. Wives
f. Even the rights of unborn children have been protected by Islaam. As such the precautionary share of a child would be set aside until the mother gives birth.
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