KUALA LUMPUR: The National Higher Education Fund Corporation (PTPTN) is in the final stages of introducing a hibah (voluntary transfer of ownership) feature for its Simpan SSPN savings products, with implementation expected once the proposal secures the necessary legal and syariah approvals, says Datuk Seri Zambry Abdul Kadir
In a written parliamentary reply on Tuesday (July 7), the Higher Education Minister said the hibah concept would cover both Simpan SSPN Prime and Simpan SSPN Plus.
“The hibah concept for Simpan SSPN products will be implemented once the proposed framework has obtained the necessary legal and syariah views and approvals,” he said.
Zambry was responding to a question from Syahredzan Johan, who asked whether products under the National Education Savings Scheme (SSPN) would be equipped with a hibah mechanism so that beneficiaries could receive the savings directly upon the depositor’s death without going through the faraid (Islamic law of inheritance) and estate distribution process.
