RM500mil in Amanah Raya ‘waiting to be claimed’

PETALING JAYA: A total of RM500mil in pending funds is in Amanah Raya Bhd (AmanahRaya) as Money Waiting to be Claimed

"This is money which belongs to heirs which could not be disbursed for certain reasons and efforts are underway to track them down," said AmanahRaya Group managing director Ahmad Feizal Sulaiman Khan.

He said the tracking down process of the heirs was done in collaboration with the National Registration Department and community leaders to ensure it reaches its rightful owners.

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"There are challenges in the process of adhering to the existing laws and the major reasons the money could not be disbursed are heirs that have moved, incorrect addresses and cases where the heirs had died," Sinar Harian reported Ahmad Feizal saying on Sunday (Sept 24).

"Some cases take 30 years to track down and if all efforts fail, the property of Muslims will be given to Baitulmal while non-Muslims’ are given to the government.

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Ahmad Feizal was speaking at the Inheritance, Faraid and Muslim Gifts Administration Law Reform in the Digital Era Convention: New Challenges and Opportunities at Wisma Badan Peguam Malaysia on Saturday (Sept 23).

He pointed out that the lack of awareness with regards to inheritance management, delays in inheritance administration, incomplete and inaccurate information also contribute to the issue.

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"Compounding the issue are uncooperative heirs, disputes and failure to submit complete documents," added Ahmad Feizal.

The event was attended by Religious Affairs Minister Datuk Dr Mohd Na'im Mokhtar, Negri Sembilan Sharia Justice Department Chief Syarie Judge Kamal Bashah Ahmad Tajuddin and Malaysian Bar Council treasurer Murshidah Mustafa.

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