QUIZ

BWM 4233 ISLAMIC WEALTH MANAGEMENT

NAME: NUR AMIRAH BINTI AZHARI

MATRIX NO: 0191113026

1) Maqasid Syariah emphasizes five main principles in governance, namely maintaining religion
(hifz ad-din), maintaining life (hifz an-nafs), maintaining intellect (hifz al-aql), maintaining
property (hifz al-mal) ) and keep the offspring (hifz an-nas). (hifz al-mal) which is a problem
related to misappropriation of property of companies, institutions or organizations. The care of
hifz al-mal is a principle that highlights economic justice and avoids elements of fraud such as
gharar. Ibn Asyur said that, this Hifz al-mal protects the property of the ummah from loss and it
begins with taking care of the property of each individual in it, including individuals responsible
for managing the country, or specifically parliament, they should adopt the concept of
transparency so that it is clear the source of property they own either from halal or haram
sources. Basically, the declaration of property whether it fulfills the aspirations of hifz al-mal or
not, needs to be examined at the initial stage i.e. maqasid Al-Aman dan maqasid Al -Khassah.
2) Concept of wealth management
 Risk is measured as the probability that you wont meet your financial goals.
 Investing should have the exclusive objective of minimizing this risk.

3) I do not agree that the stages in Islamic wealth management similar with conventional wealth
management. There are five stages in Islamic wealth management: generation, accumulation,
protection, purification and distribution. while conventional wealth management have three
stages: build,preserve and transfer.
4)