The document provides information on wealth management in Islam, including making a will, understanding inheritance laws (faraid), and the differences between bequests and estate division. It also discusses mosques, covering their history, purpose, etiquette, and key areas like the minaret and ablution area. The document aims to educate beginners on these topics in Islam.
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Wealth Management in Islam
Islamis a religion that
addresses the needs
of a person:
1. How to connect to
the Creator;
2. How to connect
the Creation.
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Wealth Management in Islam
Family institution have a deep importance in the
religion.
The messenger of Allah (peace and blessings be upon
him) advised us to ensure that our family members
would have a secure future upon our demise.
It is better to leave your heirs independent of means, than to
leave them poor and holding out their hands to people
Saying of Prophet Muhammad peace and blessings be upon him
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Wealth Management in Islam
Rights of the deceased:
There are rights of the deceased that need to be
observed.
1. Burial rights;
2. To settle his/her debts;
3. Bequests rights (Will);
4. Estate Division amongst the family members (Faraid).
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Bequest Rights
Narrated Abdullah bin Umar: Allah's Apostle said, "It is
not permissible for any Muslim who has something to
will to stay for two nights without having his last will
and testament written and kept ready with him."
Saying of Prophet Muhammad peace and blessings be upon him
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Estate Division (Irth/ Law of
Faraid)
Estate division refers to the share allotted to each heir
by Sacred Law.
The scriptural basis for estate division, prior to the
consensus of scholars, consists of the Quranic verses
on inheritance (4:11 12, 4:176) and traditions of the
Prophet (peace and blessings be upon him) where
he said:
Give the obligatory shares of the estate to those who
deserve them
Narrated by Imam al-Bukhari and Imam Muslim
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Wealth Management in Islam
The Difference between bequests and estate
division:
A bequest is the act of a living person disposing
of his own property, even if it is to be
implemented after his death.
Anestate division occurs after his death
according to the Quranic rules of inheritance.
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Wealth Management in Islam
The Difference between bequests and estate division:
Bequests:
1. Maximum amount is a third of his property.
2. Is valid to be made for Muslims and Non-Muslims.
3. Is not valid if it were to be given to those who have a share
in the estate division.
Estate Division:
1. Have a specific share allocated for each member of the
family.
2. Will only be distributed once the other rights of the
deceased have been observed (burial rights, debts are
settled and bequests have been fulfilled)
3. Is not applicable if the family member falls in one of the
three categories, (He/she murdered the deceased, he/she
is of a different faith, he/she is a slave)
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Wealth Management in Islam
Muslims in Singapore:
Administration of Muslim Law Act (AMLA)
All Muslims in Singapore are directly under AMLA
The law governs the marriage, divorce, burial and
inheritance.
All Muslims inheritance will fall under the Faraid law, unless
stated.
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What is a Masjid?
What is a Masjid?
Literally means a place for prostration.
More specifically, a place for congregational
worship with an established imam (prayer
leader) and muazzin
(person who calls out
the azan).
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History of the House of Prayer
The mosque of Quba:
Its foundations were built by Prophet Muhammad
(peace and blessings be upon him) when he migrated to Yathrib.
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Mosque Etiquette
I. Dress appropriately;
II. Enter the prayer area
with ablution;
III. Step in with the right
foot;
IV. Perform the
recommended prayer
called Tahiyyatul
Masjid;
V. Etc