al-Uqud : Journal of Islamic Economics
Vol. 6 No. 1 (2022): January

An analysis of regulation and governance for funeral social fund in Malaysia

Azrul Azlan Iskandar Mirza (Universiti Sains Islam Malaysia)
Nurul Hanis Kamarudin (Universiti Sains Islam Malaysia)
Khairil Faizal Khairi (Universiti Sains Islam Malaysia)
Syadiyah Abdul Shukor (Universiti Sains Islam Malaysia)
Nurul Aini Muhamed (Universiti Sains Islam Malaysia)
Ahmad Fadly Nurullah Rasedee (Universiti Sains Islam Malaysia)
Muhammad Suhaimi (Universiti Sains Islam Malaysia)
Nuur Halimatus Saadiah Masrukhin (Universiti Sains Islam Malaysia)
Aimi Fadzirul Kamarubahrin (Universiti Sains Islam Malaysia)



Article Info

Publish Date
03 Jan 2022

Abstract

The funeral expense is becoming expensive. It will lead to funeral poverty whereby the next of kin of the deceased face difficulty paying funeral expenses. Increasing numbers of people seek financial management advice following bereavement, which can have a long-term effect on the grief experience and an individual's ability to manage. More should be done to encourage people on low incomes to prepare for death through simple advice and guidance. In Malaysia, a funeral social fund such as the Khairat death fund, in general, is financial assistance that is a grant to the family of the deceased for covering the cost and expenses of funeral processes. Khairat death fund was managed by community members or organizations in the areas. However, all this Khairat death organization moving with their own way as there is no legal jurisprudence as guidance to regulate and to be more systematic and synchronize management. Hence, this study will review regulation and governance for the funeral social fund in Malaysia.

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Journal Info

Abbrev

jie

Publisher

Subject

Economics, Econometrics & Finance

Description

al-Uqûd : Journal of Islamic Economics published by the Islamic Economic Studies Department of Economics Faculty of Economics, Universitas Negeri Surabaya in cooperation with the Forum of Economic and Business Lecturer Islam (FORDEBI). al-Uqûd published twice a year, in January and July. The ...