Article contributed by Najwa Hamid, Officer, Bar Council Syariah Law Committee and Norashikin Kamarudin, Officer, Bar Council Islamic Finance Committee; and photos by Muhammad Bazli Naim b Abdul Azid, Administrative Assistant, Bar Council
On 6 Oct 2018, the Bar Council Syariah Law Committee (“SLC”) and Islamic Finance Committee (“IFC”) co–organised a forum entitled “Pengurusan Harta Hibah Amanah Hartanah dan Harta Alih dan Perbankan Islam: Amalan dan Dokumentasi” at the Bar Council Raja Addruse Auditorium, Kuala Lumpur.
The forum aimed to enlighten the participants on the meaning of hibah and hibah amanah, the implementation of hartanah and harta alih, and hibah in Islamic banking where it is parallel with the concept of maqasid syariah. The forum exposed the participants to a better understanding of the implementations of hibah hartanah and the relevant issues. Suggestions on how to improve hibah hartanah from the conventional and Syariah aspects were also discussed.
The panellists were Dr Syed Adam Alhabshi, member of IFC; Hj Samian Senin, consultant from Takaful Ikhlas Malaysia; and Hj Mukhtar b Abdullah, member of SLC. The forum was moderated by SLC member Rosfinah bt Rahmat.
The first speaker, Dr Syed Adam Alhabshi, explained the definitions of hadiah (gifts) and hibah, and the differences between hibah, gifts and sedekah (alms) based on the case of Poolimahee Rajeswary @ Fatimah bt Baba v Meah bt Hussain [2005] 1 JH 164, where it was held that all alms and gifts are to be considered as hibah, although not all hibah can be considered as alms and gifts.
Dr Syed Adam Alhabshi then discussed the definition of hibah amanah, its application and advantages as well as relevant issues.
Hj Samian Senin spoke on the importance of financial planning from the Islamic perspective, as the religion emphasises an appropriate balance between the fulfilment of an individual’s spiritual and worldly obligations.
He then highlighted the main components of Islamic financial planning, which include:
(1) waqf (religious endowment) and harta pusaka (estate);
(2) retirement;
(3) zakat (obligatory alms) and tax;
(4) risk management; and
(5) cash flow management.
Hj Mukhtar b Abdullah, the last speaker, explained that hibah is a gift of asset(s) made voluntarily by a donor during his/her lifetime, to the beneficiary, without consideration.
He remarked that a hibah agreement will not be formed unless the following requirements are fulfilled:
(1) donor of the hibah (al–Wahib);
(2) beneficiary of the hibah (al–Mawhublahu);
(3) asset(s) bequeathed as the hibah (al–Mawahub); and
(4) sighah (method to manifest the intention to contract) by ijab (offer) and kabul (acceptance).
Rosfinah bt Rahmat moderated the question–and–answer session.
At the end of the forum, Lukman Sheriff b Alias, Deputy Chairperson of IFC presented each speaker with a token of appreciation.
The seminar was attended by 109 participants consisting of Members of the Bar and non–Members, who provided positive feedback.