FatwaNationalTransactions & Finance
Penyucian Dividen Simpanan Ahli KWSP Sedia Ada Sebelum Bertukar Ke Akaun KWSP Yang Diuruskan Mengikut Prinsip Syariah (KWSP-Islamik)
Must existing EPF members' dividends be purified before they switch to a Shariah-compliant EPF account (EPF-Islamic)?
Short answer
The Muzakarah resolved that the EPF is not obliged to purify the dividends on savings of members who agree to switch to the EPF-Islamic account.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- National Fatwa Committee (JAKIM)
- Date
- Status
- Fatwa committee decision
- Series
- Kompilasi Pandangan Hukum Muzakarah Jawatankuasa Fatwa MKI (JAKIM, terbitan 2016)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Muzakarah resolved that the EPF is not obliged to purify the dividends on savings of members who agree to switch to the EPF-Islamic account. The decision rests on the finding that the EPF's profits arise from effort (takassub) and not usurpation (ghasab), and that members had no right to manage their savings from the start of contribution. The fatwa also refers to current Islamic banking practice, which does not require purification of non-Shariah-compliant income before depositing or investing in Shariah-compliant products, and to a Bank Negara Malaysia Shariah Advisory Council resolution allowing dividends from conventional products to be reinvested in Shariah-compliant products.
Written in our own words from the original fatwa — check the source before acting on it.
Muzakarah bersetuju memutuskan bahawa KWSP tidak diwajibkan untuk melakukan penyucian terhadap dividen simpanan semua ahli KWSP yang bersetuju untuk bertukar ke akaun KWSP-
Read the full fatwa on the National website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
National Fatwa Committee (JAKIM). “Penyucian Dividen Simpanan Ahli KWSP Sedia Ada Sebelum Bertukar Ke Akaun KWSP Yang Diuruskan Mengikut Prinsip Syariah (KWSP-Islamik)”, 18 August 2015. https://www.islam.gov.my/images/ePenerbitan/KOMPILASI_MUZAKARAH_MKI_2016.pdf#penyucian-dividen-simpanan-ahli-kwsp-sedia-ada-sebelum-bertukar-ke-akaun-kwsp-yang-diuruskan-mengikut-prinsip-syariah-kw. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/purification-epf-dividends-before-switching-epf-islamic/