RM500 million in inheritance waiting to be claimed by heirs

KUALA LUMPUR - The pending funds or Money Waiting to be Claimed (WMD) stored at Amanah Raya Bhd (AmanahRaya) has so far reached RM500 million.

AmanahRaya Group managing director Ahmad Feizal Sulaiman Khan said that the cash belong to heirs who could not be handed over for certain reasons and efforts to track them down were underway.

According to him, the process of tracing the heirs was done in collaboration with the National Registration Department (NRD) and community leaders to distribute the inheritance to those who were entitled to it.

"It is true that we are faced with challenges in maintaining these rights according to existing laws. During that period, we will be in contact with many parties. Among the causes of these delayed funds are heirs who cannot be traced or have moved, incorrect address and there are cases where heirs had died.

"Some of the longest cases we track are 20 to 30 years. For example, recently, there was a case of a Chinese man who died and we don't know where his heirs are. We will trace the heirs, but sometimes, efforts would be carried out for up to 10 years, but we cannot find them.

"However, even though the case has been open for a long time, there is still an opportunity to find more, but if it reaches a certain period and cannot be found, Muslims' property will be given to Baitulmal while non-Muslims' will be given to the government," he revealed.

He made the remark at the Inheritance, Faraid and Muslim Gifts Administration Law Reform in the Digital Era Convention: New Challenges and Opportunities at Wisma Badan Peguam Malaysia yesterday.

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

Feizal pointed out that among the main challenges related to inheritance administration was the lack of awareness in regard to inheritance management, delays in starting inheritance administration, incomplete or inaccurate information and the status of heirs.

He also noted that there were even heirs who would not cooperate, fight and failed to submit complete documents.