Abstract
This paper appraises the bequest of company shares under Islamic law Shari'a. It
examines the permissibility of bequeathing shares, considering them as a form of fungible
property mithli or a combination of tangible and intangible assets. The study explores the
conditions and restrictions governing such bequests, including the limitations on the
bequeathable portion of the estate (typically one-third), and the rights of legal heirs. It
further analyzes the challenges posed by legal requirements structures surrounding and
shareholding arrangements, such as fractional shares, bonus shares, and the complexities
of valuing shares in diverse markets. The paper investigates various scholarly opinions
on the matter, drawing upon classical Islamic jurisprudence and contemporary fatwas to
offer a comprehensive analysis of the legal framework surrounding the bequest of
company shares. Ultimately, this research aims to provide clarity and guidance on this
increasingly relevant issue within the context of Islamic finance and estate planning,
offering practical recommendations for both testators and heirs
examines the permissibility of bequeathing shares, considering them as a form of fungible
property mithli or a combination of tangible and intangible assets. The study explores the
conditions and restrictions governing such bequests, including the limitations on the
bequeathable portion of the estate (typically one-third), and the rights of legal heirs. It
further analyzes the challenges posed by legal requirements structures surrounding and
shareholding arrangements, such as fractional shares, bonus shares, and the complexities
of valuing shares in diverse markets. The paper investigates various scholarly opinions
on the matter, drawing upon classical Islamic jurisprudence and contemporary fatwas to
offer a comprehensive analysis of the legal framework surrounding the bequest of
company shares. Ultimately, this research aims to provide clarity and guidance on this
increasingly relevant issue within the context of Islamic finance and estate planning,
offering practical recommendations for both testators and heirs
Keywords:
Appraisal
Company Shares
Islamic Law
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