Affin Group names RM1m grand prize winner in flexible savings plan campaign
The prize presentation ceremony was held at Menara Affin @ TRX and marked the conclusion of the campaign, which ran from Aug 8 2024 to April 30 2025 and attracted nearly 117 million entries nationwide.
The campaign also awarded cash prizes of RM108,888, RM58,888 and RM28,888 for first, second and third places respectively, alongside other tiered rewards.
Affin bank executive director of group community banking, Encik Mohammad Fairuz Mohd Radi, said the campaign reflects the bank's commitment to rewarding loyalty and providing meaningful experiences for customers.
'As we mark our 50th anniversary this October, we aim to go beyond traditional banking by creating value, celebrating our customers and upholding our promise of Unrivalled Customer Service,' he said.
The group will continue its celebrations with the upcoming Affin Jubilee Campaign: '50 Years, 50 Prizes', which also offers a RM1 million grand prize.
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Borneo Post
2 hours ago
- Borneo Post
Validity based on law
Hibah can be challenged in court by the heirs if there are weaknesses or non-compliance with legal or religious requirements. — Bernama photo HIBAH, which in Islamic law refers to assets voluntarily given or transferred to a beneficiary by a person during their lifetime, is generally viewed as final and not open to dispute. However, a recent decision by the High Court came as a shock to many when it annulled a 'takaful' (Islamic insurance) hibah worth RM1 million that had been given to the policyholder's widow. [This case involved a takaful policyholder who named his wife as the hibah recipient. But, after his death, his family filed a claim in the Syariah Court to challenge the takaful hibah, but the court upheld the widow's right to the funds. The family then brought the case before the Civil Court, which ruled in favour of the family and ordered that the funds be redistributed according to 'faraid', or Islamic inheritance law]. The case has sparked a heated debate on social media because the general perception is that hibah cannot be challenged by other heirs. Many netizens, who had placed full trust in the 'immunity' of hibah from legal disputes, questioned the validity of takaful hibah. Some even accused their takaful agents of being 'scammers' because there is no guarantee that the hibah cannot be challenged in court. 'It can be challenged' According to lawyer Dr Mahmud Abdul Jumaat, hibah is a voluntary transfer of property from a giver to a recipient during the giver's lifetime, usually done to avoid inheritance disputes later on. Hibah also refers to the immediate transfer of asset ownership, made without expecting anything in return and based on love or affection. 'However, in reality, hibah can be challenged in court by the heirs if there are weaknesses or non-compliance with legal or religious requirements, like, for example, the hibah document is unclear or incomplete. 'Similarly, if the gift (hibah) doesn't fulfil the pillars and conditions of Islamic law or lacks the recipient's consent, or the property is not fully owned by the giver, then heirs have the right to question its validity in court. 'Challenges usually arise when heirs feel dissatisfied, for example, if they believe the hibah undermines their faraid rights, or suspect fraud or coercion in the process,' he tells Bernama. Hibah also refers to the immediate transfer of asset ownership, made without expecting anything in return, and based on love or affection. — Bernama photo Mahmud says if a hibah is made while the giver is suffering from a terminal illness, it (gift) will be treated as part of the giver's estate and, hence, will be subject to the appropriate conditions. In such cases, he points out that the heirs may challenge the hibah on the grounds that it violates Islamic inheritance laws. He also clarified that under Malaysia's legal framework, hibah falls under the jurisdiction of both the syariah and civil courts. 'The Syariah Court holds specific authority to verify the validity of a hibah under Islamic law, while estate administration (distribution of estate after death) falls under civil jurisdiction, such as the Small Estate Office or the Civil High Court. 'Conflicts can arise if there's overlap or confusion between these two jurisdictions. 'For instance, heirs may challenge a hibah in Civil Court by claiming that the property concerned is still part of the estate and must be distributed via faraid, even if the Syariah Court has already confirmed the hibah as valid. 'This was exactly what happened in the recent takaful hibah court case, where a legal technicality (involving Schedule 10 of the Islamic Financial Services Act (IFSA) 2013 regarding hibah nominations) led to a contradiction between the syariah and civil court rulings. 'Overall, a hibah can be challenged if it doesn't meet religious or legal conditions. 'But if it is properly executed in line with syariah principles and legal requirements, it is usually upheld as valid, even if contested,' he explains. Understanding the procedures On experts and estate planning practitioners' assertion that hibah remains a relevant instrument for asset distribution as long as the procedures are carried out properly, Mahmud says the fact that hibah can be challenged does not mean it is automatically invalid or illegal. Rather, it simply means hibah is not an 'untouchable' instrument immune from scrutiny. 'If something is challengeable, it doesn't mean it's inherently bad. 'Just like a 'wasiat' (will) or any other legal document, hibah offers a good solution for estate planning, but it must be executed carefully in accordance with Islamic principles. 'In fact, under Islamic law, hibah is permissible and considered a suitable practice as long as it doesn't contradict faraid and fulfils syariah requirements. 'The recent court case highlights the importance of understanding the legal processes involved in hibah, rather than rejecting its benefits outright,' he says. Dr Mahmud Abdul Jumaat Mahmud adds that it is important to realise that the court challenges usually stem from technical or procedural weaknesses, and not because the concept of hibah is invalid. Pointing to the recent court case, he says it involves specific legal provisions (takaful hibah nominations under IFSA 2013), adding that the court decision is not final yet as it is expected to be appealed. Mahmud also observes that most other forms of hibah, such as property, cash or other assets, are recognised as valid as long as they fulfil the necessary conditions. 'Therefore, the people need not panic, but should instead focus on strengthening their hibah procedures. 'Hibah continues to be an important tool for Islamic estate planning in Malaysia. 'It allows the wishes of the deceased to be honoured – for example, protecting the welfare of specific family members or chosen recipients – without breaching faraid, if handled correctly. 'What's crucial is to understand that hibah is not an absolute guarantee on paper alone. 'It requires proper understanding and correct execution to ensure the giver's intentions are fulfilled smoothly and without future disputes,' he says. Alternatives According to Mahmud, aside from hibah, there are several alternative methods to transfer wealth or assets to the loved ones that carry a lower risk of being challenged. These include direct transfers during one's lifetime through standard ownership transfers or gifts, without relying on formal hibah documents. 'For example, a husband may give cash or transfer property ownership to his wife legally while still alive. 'Once the property is registered in the wife's name, it becomes her absolute right and is no longer considered part of the husband's estate after his death. 'In other words, assets given during the giver's lifetime are not subject to faraid distribution because the ownership has already changed hands before death. 'These direct transfers – whether via a deed of gift, transfer of ownership at the land office for real estate, or bank account balance transfer – can help avoid disputes as other heirs no longer have a claim on the assets given as gifts. 'In addition, married couples may consider joint ownership arrangements – for example, registering assets like a house or bank account under both husband and wife's names. 'Depending on legal practices, this method sometimes allows the asset to automatically pass to the surviving joint owner without going through the inheritance process.' Mahmud also points out that for Muslim couples in Malaysia, a wife can also make a claim for joint matrimonial property in the Syariah Court after the husband's death, and vice versa. Through this claim, the court will determine a portion of the jointly acquired assets as the wife's rightful share. This portion is removed from the deceased's estate and cannot be disputed by other heirs as it already belongs to the wife. Another alternative is to use a trust as an asset distribution tool. The asset owner can appoint a trustee institution or trust company, such as Amanah Raya Bhd or a private trust firm, and transfer specific assets to the trustee through a formal trust agreement, with instructions that the assets be held for the benefit of a chosen recipient. 'For instance, a father might place a sum of money or property into a trust for his child under certain conditions. 'Upon his death, those assets would not be included in his estate because they were already placed in trust during his lifetime. 'The trustee would then distribute the assets to the child according to the terms of the trust, and other heirs could not challenge it because legally, the assets no longer belonged to the deceased at the time of death,' he says, adding that trusts usually involve costs and require professional management. 'Wills can be challenged' Explaining that Muslims can also consider making a will, Mahmud says this is permissible within certain limits, one of which is that only up to one-third of the estate (after deducting debts) can be given to non-heirs. Additionally, a will cannot include faraid heirs – unless with the consent of all other heirs. A will is a written or verbal declaration by someone about how their assets should be distributed after death and it only takes effect upon their passing. 'If the will exceeds the legal limit, or is made in favour of a faraid heir without the consent of others, it can be challenged. 'Any portion exceeding one-third will revert to faraid distribution, and any bequest to an heir without consent will be invalid, unless all other heirs agree to it. 'For Muslims, a will must be validated by the Syariah Court via a will confirmation order, whereas for non-Muslims, the probate process must be conducted in the Civil Court before assets can be distributed. 'Wills take time and may be contested if there are questions about their validity,' he adds. 'Documents must be complete' To ensure a hibah is strong and less likely to be challenged, Mahmud says both the giver and the recipient must make sure that its documentation is clear and complete. It should include details such as the identities of the giver and the recipient; a description of the asset to be given as gift; declarations of the offer and acceptance; signatures; and witnesses. He also says the hibah documents must be free of ambiguity and meet all requirements of Islamic law and existing regulations. 'It's always better for a hibah to be done in writing – rather than verbally – as written documents serve as strong proof of intention and mutual consent. 'Moreover, anyone planning to gift assets through hibah is encouraged to seek Syariah Court confirmation and prepare formal documentation. 'Confirmation from the Syariah Court (via a hibah confirmation order) certifies the validity of the hibah under Islamic law and makes it binding on other heirs. 'It's also advisable for the hibah giver to seek professional advice from a syariah lawyer, religious institution officer or estate planning consultant before and during the process,' he says, adding that the experts can ensure no technical aspects are overlooked, such as in the case of property, whether or not it is still under mortgage; or if there is a need to obtain bank consent; or for takaful hibah, whether or not the correct nomination procedures have been followed. Conditional hibah Al-Isra' Group associate manager Reefa Shahidah Mohd Razali, meanwhile, believes that the issue of takaful hibah being disputed in court would not arise if its implementation followed the existing legal framework under IFSA 2013. She explains that the hibah used in the current takaful industry is 'conditional hibah' – a direct gift made by the policyholder to the nominated recipient in the takaful certificate. Reefa Shahidah Mohd Razali 'There's no basis for accusing takaful agents of misleading clients because the implementation of this hibah is based on valid legal provisions under IFSA 2013, specifically Schedule 10, which outlines the hibah instrument. 'Hibah management in today's takaful differs from older plans that existed before IFSA 2013. 'Before the Act was enforced, most plans used the concept of 'wasi' (trustee), not absolute ownership-based hibah. 'That's why there was confusion in the past – it was not clearly stated whether the gift to heirs was through hibah or wasi. 'Today, it's clear. In current takaful plans, conditional hibah is valid and legally grounded,' she points out, adding that hibah nominations are valid and cannot be contested unless there is an element of fraud or breach of contract. 'Everything is based on the law. 'In fact, we encourage clients to fully understand the concept of conditional hibah before signing any policy.' — Bernama
New Straits Times
14 hours ago
- New Straits Times
Malaysia's food resilience hinges on risk management
KUALA LUMPUR: Experts have urged the government to go beyond its new food security blueprint under the 13th Malaysia Plan (13MP), warning that key gaps in tackling agricultural risks, land use and entrepreneurship could undermine long-term resilience. Putra Business School agricultural economics expert Prof Datuk Dr M. Nasir Shamsudin said while the initiatives outlined in 13MP were comprehensive, they left major vulnerabilities unaddressed. "Agriculture is far more exposed to unpredictable risks than the industrial sector. "We need an effective early warning system that includes price monitoring, forecasting and disaster preparedness, especially for floods and droughts that can damage irrigation and farm output," he said. Nasir said Malaysia should also introduce a crop insurance scheme to provide structured and immediate financial protection for farmers facing natural disasters or volatile commodity prices. "Government assistance exists, but insurance would work better as a safety net. "It's proven successful in the United States, but in Malaysia, high risks have stalled implementation," he said. Another missing piece, he said, was a land-use policy that safeguards national food goals by setting aside adequate agricultural land. "This could be achieved through a Food Security Transfer Payment, where the federal government compensates states for the opportunity cost of reserving land for food production. "It could be based on the value of ecosystem services provided by that land," he said. Nasir also stressed the need to develop agro-entrepreneurs to drive high-tech, sustainable farming. "Technology won't translate into productivity or supply resilience unless we have entrepreneurs who can commercialise it," he said. While welcoming government plans to adopt automation, digital tools and diversify import sources, Nasir said Malaysia's import dependency ratio remained high due to shifting consumer demands for healthier, higher-value foods. On rice imports, he cited Singapore's strategy of sourcing from multiple countries to avoid severe disruptions if one supply line is cut. The 13MP, unveiled yesterday by Prime Minister Datuk Seri Anwar Ibrahim, covers 2026 to 2030 and focuses on large-scale agriculture in Kelantan, Pahang, Terengganu, Sabah and Sarawak. It also aims to accelerate five-season padi planting in key rice-producing regions. By 2030, the government targets the agri-food sector's value-added contribution to reach RM58 billion.
New Straits Times
a day ago
- New Straits Times
Minimum wage extended to contract apprentices as amended act takes effect
PUTRAJAYA: The current minimum wage has been extended to apprenticeship contract workers after the National Wages Consultative Council (Amendment) Act 2025 came into effect yesterday. In a statement, the Human Resources Ministry said Minister Steven Sim had set Aug 1, 2025, as the commencement date for the amendments. "Under the amendment, the current minimum wage now applies to apprenticeship contract workers, in line with the government's commitment to enhancing protection and welfare for all categories of workers," the statement read. An apprenticeship contract refers to an agreement in which an employer undertakes to employ and systematically train a person in a specific trade, ranging from six to 24 months, during which the apprentice is bound to work for the employer. The ministry also expressed appreciation to employers who had already been paying the minimum wage to apprenticeship workers ahead of the legal requirement. It then reminded employers paying wages above the minimum rate that they are not permitted to reduce salaries to match the statutory threshold. The ministry announced that the Minimum Wage Order 2024 will take effect on Aug 1, 2025, setting a minimum wage of RM1,700 per month for employers with fewer than five employees who are not engaged in professional activities classified under the Malaysian Standard Classification of Occupations 2020. The ministry urged employers to comply with the minimum wage laws enforced by the Peninsular Malaysia Department of Labour, Sabah Labour Department and the Sarawak Labour Department. Employers found guilty of failing to do so face fines of up to RM10,000 for each affected worker, the statement concluded.– BERNAMA
