THE EMPOWERMENT OF FAMILY ECONOMY THROUGH PRODUCTIVE INHERITANCES
by Ika Rachmawati Graduate School Universitas Gadjah Mada
Zein Muttaqin Graduate School Universitas Gadjah Mada [email protected]
ABSTRACT
This paper is attempted to develop certain concept regarding family economic empowerment through Islamic productive inheritances. A discussion regarding inheritance it does not quite discussed by Islamic economics scholar, this is due to the limited literature that specifically deal with the inheritance. Generally speaking, inheritance is a policy regarding the transfer of ownership rights of deceased to the living heirs. Islam has provided many instructions in Quran and Sunnah about the inheritance distributions. Nowadays, it is known that not many people realize the potentiality of inheritances, if it managed well it will be implicated to the improvement of family economic welfare. To improve their welfare, most people involve themselves into the banking system, which took a loan from third party who has excess funds. However, bank loans is not the only option to empower the family economy, inheritance also has a big opportunity as a financial solution, as a cautionary note is that the inheritance acquisitions cannot be obtained unless few specific rules are fulfilled.
Productive inheritance is a new concept that combines the principle of Islamic economics contracts into the management of inheritance distributions. First, the distribution of inheritance to the living heirs must comply by Islamic teaching through faraidh principles accordingly. Second, under mutual agreement among living heirs, some of the inheritance is collected as part of initial capital in developing a new family business. Third, the cooperation concepts that used in the process of collecting the inheritance parts is using one of Islamic economics principles, which is the musharakah contracts. Fourth, to improve the family business interest, the profit loss sharing concepts is used as a new attraction that has sharia value on it.
The benefit that came from the implementation of this concept is vanity reduction over inheritance utilizations. The vanity arise form a lack of initiative to capitalize on inheritance productively, mostly it used as an additional non-fixed income to meet their daily needs. Another benefit that arose from productive inheritances is the business continuation as measure of the ummah unity especially in particular closest relatives to prepare and empower a strong descendant in the face of future uncertainties.
Keyword: Empowerment, Productive Inheritance, Musharakah, Profit Loss Sharing
1. INTRODUCTION
It is believed that the larger a family, the greater the need that have to be met by the family both basic needs, secondary or tertiary needs. Sometimes, for people who had a deep understanding regarding religion, mostly considered that spiritual needs is like a coin that could not be separated and should be fulfilled. The most common knowledge in economy mentions that people have unlimited wants and desire but limited means. To satisfy their needs they try to earn money by any means. Now, most of them are engaging themselves to the third party, which either known as banking systems or banking institutions. Complacent by the banking services that already had good appearances that has influenced and rooted in the community for so long, most of people tend to less consider other potential economy source to fulfill their needs and of course empower them indirectly. Even some of others involve themselves into some conflict, which results unrest in the society (Bulbul, 2013). In this paper, the other money sources that might assure the additional wealth for family to empower them is through inheritance.
Inheritance is one of part of re-distribution of wealth, which is implemented exclusively in the family milieu only and involving death as the main factor. All that is known, the topic regarding inheritances is not discussed intensely among Muslim economists, this happens due to the limitations of literature especially regarding the development model of implementations of Islamic inheritance law. According to Muqorobin (2008) the recent database of Islamic economics literature in 1994-2005 especially about inheritance is only 1.05 percent, while 20.75 percent majority of literature on banking.
Most of people views inheritances as a mere wealth distribution activities, they do not fully understand the true purpose that embedded in the inheritance, which is to empower and strengthen the family of the abandoned heirs. Bulbul (2013) find 68 percent of Bangladesh people (Muslim) have knowledge about Islamic law of inheritance and 32 percent do not have knowledge about it. However it could be assumed that majority Muslim had knowledge about Islamic law of inheritance, but it does not guarantee the deep understanding for the utilization of Inheritance wealth for the good of family. If correlated to the God’s revelation, which means said “And let those [executors and guardians] fear [injustice] as if they [themselves] had left weak offspring behind and feared for them. So let them fear Allah and speak words of appropriate justice” (Q.S.
An-Nisa’ (4): 9). This verse is giving instructions regarding precautionary attempt to leave no descendants either weak physically, materially and spiritually.
To enhance the benefits of received inheritances, allocating the inheritance into productive outposts is one of solution to empower and strengthen the economy of family that left behind. This paper is attempted to develop a suggestion concepts of how to improve the received inheritances to be more productive by inserting and implementing Islamic jurisprudence of muamalah perspectives, which means the implementation of musharakah contracts as a medium of inheritance productivities.
2. INHERITANCE IN ISLAMIC FRAMEWORK
Generally, inheritance means is a policy regarding the transfer of ownership rights of deceased to the living heirs. Islam has provided many instructions in Quran and Sunnah about the inheritance distributions. Etymologically speaking, inheritance is derived from Arabic language that is Al-Miirats, which is a form of ism mashdar from waratsa – yaritsu – irtsan - wamiiraatsan, which means a transfer of something from one person to another, or from one community to another. Terminologically, the Islamic scholars defined Al-Miirats as a transfer of ownership of the deceased to the surviving heirs, either by leaving something in the form of property, land or any form of legal ownership over the Islamic laws (Habiburrahman, 2001). It can be concluded that inheritance is the transfer of ownership of people who died to the heirs who are still alive and the transfer must be bound within the framework of Islamic law, in this case is the Islamic law of inheritance, or better known as ‘ilm faraidh.
According to Awang (2008) that at the early stage, Islam perpetuated the inheritance laws of the Jahiliyah, a temporary system based on kinship and Hijrah. The system was then overruled and replaced by the inheritance distribution by will-system (wasiat) to parents and kinsfolk based on verse 180 from Surah al-Baqarah. At the final stage, all previous systems were abolished and replaced with the current Islamic Inheritance Law.
The law was derived from the commandments of Allah s.w.t. based on the Mawarith verses which are verses 11, 12 and 176 of Surah al-Nisa. Sapp (1996) opines that the essence of these verses are to moderate the economic differences between the haves and have –nots.
In practice, the Islamic inheritance law is categorized into two general forms that is the gift inter vivos and the gift post mortem (Powers, 1993). It can simply be understood that inheritance in form of gifts inter vivos means a gift during the life of the grantor and the grantor are no longer has any rights to the property and can not get it back without the permission of the party it was given to. Furthermore, gifts post mortem means a gift that happens after the grantor has passed away and the heir has a full access to get their rights from what that left behind by the deceased. It is realized that whether inheritance can be inherited or not, is depend on the existence of inheritance objects. Ramulyo (2004) asserted that the pillar of inheritance is muwarrits (the deceased), mauruuts (the inheritance property) and waarits (the heir). If these pillars cannot be met, then the process of inheritances is void. In particular, the existence of inheritance is must be own by the deceased, which means the ownership of property. The ownership of property from the deceased relation is called ownership by succession, so the law of succesion may be optional or compulsory. According to the Quran, Inheritance operation comes into three ways, namely: (i) nasab (i.e. relationship between relatives); (ii) nikkah (i.e.
relationship between marriages); (iii) wallah (i.e. relationship between emancipated slave) (Ajani, et.al, 2013).
3. PRODUCTIVITY AND DISTRIBUTION OF WEALTH
Basically, productivity consists by two words that is product and activity, means the ability to produce something. Generally, productivity means the mental behavior which views that today result should be better than yesterday results and tomorrow results should be be better than today. It can be concluded that productivity is a system which expressing as reflecting ratios how to use and produce something from a certain resources efficiently and beneficial. This definition correlated with the hadith of prophet Muhammad that said, “Whoever that today is better than yesterday, then he was among the lucky ones. Whoever that have the same day as yesterday, then he was among the losers. Whoever that today is worse than today, then he was condemned”. Although this hadith is a weak hadith (dhaif) due to the weak connection between narrators -(i.e.
Ibrahim ibn Adham and Al-Hasan Al-Bashri is disconnected, because Ibrahim used term (lafadh) “have came to me a news (balagannii)) – this hadith had taught us that time is priceless, which means it cannot repeated twice and what have done cannot be undone unless keep trying to do something better and useful for the next day.
The concept of productivity is ideal with the idea of transformation, changes or adaptations. If we understand the idea of productivity in the economy frameworks means to produce goods and services. However, Friedman (1962: 161-162) explicate that society cannot very well compel people to be productive and, even if it could, out of respect for personal freedom, probably it should not do so. Therefore, he concludes, in order to get people to be productive, society needs instead to entice them to produce, and the most effective way of enticing people to produce is to distribute income and wealth according to productivity. Thus we arrive at the first ideal underlying capitalism: "To each according to what he and the in-struments he owns produce”.
In Islam, the idea of distribution is encouraged, in fact Allah has revealed in His Words, “And what Allah restored to His Messenger from the people of the towns - it is for Allah and for the Messenger and for [his] near relatives and orphans and the [stranded] traveler - so that it will not be a perpetual distribution among the rich from
among you, …..” (Q.S. Al-Hasyr (59): 7). The other instructions which mention regarding the value of distribution is from Umar bin Khattab words, "Verily, i have left among you two things that will lead you into goodness and prosperity as long as you committed, that is be fair in the law and to be fair in the distributions" (Al-Haritsi, 2006). Thus, it can be concluded that distribution is highly noticed especially regarding the distribution of wealth.
4. THE BASIC OF MUSHARAKAH CONCEPT
Recently, the idea of musharakah cannot be separated from the idea of Islamic banking and finance, but traditionally the basis concept of musharakah has been demonstrated by humans far before Islam resurgences. According to some literature basically musaharakah is identical with partnership. Generally, musharakah (partnership, project financing participation) means cooperation contracts between two or more parties for a particular business in which each party contributes funds (or charitable / expertise) with the agreement that the benefits and risks will be shared in accordance with the agreement (Antonio, 2001). Yahman (2010) mention that musharakah as a direct investment with the customer in the form of equity ownership.
Antonio (2001) distinguish musharakah into two types, namely musharakah of ownership and musharakah ‘aqd (contract). Musharakah of ownership is created by inheritance, will or other conditions that result in the ownership of an asset by two or more people. In this musharakah, possession of two or more people to share in a real asset and a share of the profits generated is also the asset. Musharakah ‘aqd is created by way of an agreement in which two or more people that everyone of them provide the capital of musharakah, they also agreed to share the profits and losses. Yahman (2010) also added that profit and loss would be assigned to each joint venture according to a well defined distribution formula.
In case of joint venture application, Muhammad Taqi Usmani explain that (Khan, 2008) running musharakah accounts on the basis daily products have to follow a suggested procedure for the purpose as follows, (i) a certain percentage of actual profit must be allocated for the management; (ii) the remaining percentage of profit must be allocated for the investors; (iii) the loss, if any, should be borne by the investors only in exact proportion of their respective investments; (iv) the average balance of the contributions made to the musharakah account calculated on the basis of daily products shall be treated as the share capital of the financier; (v) the profit accuring at the end of the term shall be calculated on daily product basis and shall be distributed accordingly.
He even examine the practical point that commonly faced by the musharakah subjects are (i) risk of loss; (ii) dishonesty; (iii) secrecy of the business; (iv) client’s unwilling to share profits (Khan, 2008).
5. FINDINGS AND DISCUSSION
Speaking of which about re-distribution of wealth, the idea of developing the inheritance property into productive economic activity is expected to be more helpful and empowering to the family of deceased. By inserting sharia contracts into consideration, the heir could improve their own family economy conditions to be more empowered. The insertion of sharia value in joint ventures on certain business might be encouraging the heir to step into another opportunities for investment instead of increasing the amount of saving and consumption needs. Central Statistics Board of Indonesia (2014) indicates that the value of household consumption expenditure of Indonesian people in 2008 is 3.318.104,8 million rupiah. By attempting to change the economic behavior of Indonesian people from consumptive behavior into more productive behavior, that is to invest a portion of owned capital into the real business sectors. To attain the capital needs for business, the inheritance is holding a great potential and opportunities as additional capital, by transferring family resources to the heir or children in either forms of gift inter vivos or gift post mortem. For the fact, Ohlsson and Nordblom (2002) find that the transfer of physical resources – in forms of
gift inter vivos - by parents to their children have often given the children good opportunities to develop their own human capital. To explain further about the financial strategy of productive inheritance management is shown as follows,
Picture.1.
The Chart of Productive Inheritance Mechanism
Based on the picture before, it could be explained that there four step to improve inheritance to be more productive and empowering for the family. The first step is a basic concept of Islamic inheritance law, which means the distribution of wealth of the deceased to the rightful heir that corresponds by islamic teaching (i.e. 'ilm faraidh).
According to Wahid and Muhibbin (2009) the transfer of ownership of deceased to the rightful heir should cover the principles of Islamic inheritance laws, that is,
a. the principle of ijbari, means the transfer of property that happens on its own without any intervention of the deceased and the heir (the will of Allah).
b. the principle of bilateral, means the estate is passed to heirs through a two-way around (both sides), which every person is entitled to receive inheritance rights of both parties line of relatives, the relatives of the male lineage and the relatives of the female lineage.
c. the principle of individuality, means heritage can be divided to each heir to be privately owned. In practice, each of heir receives part of its own without being tied to the other heirs.
d. the principle of impartial justice, means proportionally balance between rights and obligations, the fairness of what has been received with the needs and the benefit purposes.
e. the principle of simply due to death, the transfer of property to other family members cannot be happened unless those who bequeath the property is passed away.
When these principles are met, next part is deepen steps about the implementation of inheritance law, which means the division of bequeathed property using 'ilm faraid.
There are many cases and different calculations for inheritance distributions and it depends on the real conditions and situations when the deceased passed away. For example, if the deceased had two children, one male and one female, the division of bequeathed property accordance to the Quran is 2:1, two for male and 1 for female. For a Muslim, this calculation and instructions is absolute, it is based on surah An-Nisa’ verse 11, means “Allah instructs you concerning your children: for the male, what is equal to the share of two females, …. (Q.S. An-Nisa’ (4): 11). For the record, this step must be taken seriously, because the ultimate purpose why inheritance could help to empower strengthen family lies down in proportionally division of heritage. To prevent a misconception on productive inheritances, this step must be completed first before moving onto the next step, in the view of Islamic law this action is to prevent the occurrence of two covenants in one contract.
The second step is the mutual agreement among heirs. As it has been understood before, the basic concept of joint ventures is mutual agreement between one investor to another. The idea of developing inheritance wealth into the business sector should be encouraged by the mutual agreement among heirs. Because no matter the reason, each of
heirs should be able to put aside personal affairs or interests for the good of family. It is realized this step is the most difficult situation, because every single of heirs had their own family situation that must be considered first and there is high possibility this step could cause a conflict among family member. According to Bulbul (2013) find that 52 percent families faces conflict to distribute the heir-estate (heritage) and 48 percent families has not face conflict while distributing the heir-estate. This proved as a basic obstacle to improve the heritage to be more productive, unless the distribution runs smoothly without conflict. However, this case (the distribution conflicts) happens to the less knowledge family regarding Islamic inheritance laws, because Bulbul (2013) find that there are 97 percent possibility the conflict would resolved and 3 percent possibility the conflict would not resolved if the distribution is implemented by Islamic inheritance law.
Based on the picture before, it is shown that after the heir has received their part of heritage proportionally, it is assumed that one of family member (i.e. the heir) suggests to the other family member to invest part of their received heritage to invest into good business sector. In this case, the best strategy that came up to convince the family is through psychological approaches. This strategy could be considered as form of social capital that will lead other family member to make productive assets than adding their own personal physical resources to maintain their daily needs. Many cases show that the heir still respect the deceased as a good will. In fact, sometimes during their life, the deceased has been advised their devisor to utilize the heritage if the deceased passed away and after the death occurrences the heir still remember the advice. If the psychological approaches do not work, the next strategy is through economical approaches. By providing family member (i.e. the heir) a lot of possible and potential market and business reasons, rationally it could help them to determine their decision to invest part of their received heritages. Optimistically, if the other family member has decided their decision to invest part of their heritage into real business sectors, then the third step could be implemented into the business.
The third step is the implementation of musharakah contract. Before it is explained further, one thing that should be noted is the second step (i.e. mutual agreement) is limited only to the decision making of other family member whether investing to the real business sector or not. In this step, the family member is assumed has decided to invest part of their heritage to start a business. To provide a good start for business, the process of capital raisings must use the joint ventures concept by enforcing and implementing the Islamic law. Musharakah as one of the contract agents of Islamic investment, which contain the capital joint on certain amount of parties that agree to share the profit and loss based on the amount of their capital shares that invested into the business.
In this case, the capital collections is obtained from the percentages or nominal of heritage that invested by the family member. To be more precise, the capital that should be collected for investment is based on the amount of received heritage. For example, the deceased had bequeathed to the heir in amount of 100 millions rupiah, there are three heirs, which the wife inherited 13 millions (equally 1/8 shares), the son inherited 58 millions (equally 2 shares) and the daughter inherited 29 millions (equally 1 shares).
Then, the heirs (is assumed that only the son and the daughter who agreed) is agreeing to start a new business with a capital of 50 millions rupiah.
Next, they agreed that the amount of capital ratio is consist of 60 : 40 shares, which is the son has 60 percent of capital from the needed total capitals and 40 percent from the needed total capitals and this step they had already implemented the concept of musharakah (partnership or joint ventures). Thus it can be concluded the son must invest 30 millions (60% x 50 millions) and the daughter must invest 20 millions (40% x 50 millions) from the received heritage from the deceased. According to the calculations, the actual heritage that remains for another purpose besides investment, as follows (i) the son that inherited 58 millions invested in business for 30 millions (60 percent shares) is remain 28 millions; (ii) and the daughter that inherited 29 millions invested in business for 20 millions (40 percent shares) is remain 9 millions. In order to clarify the situation
of capital joint between heirs the only calculated and considered as capital for business is limited to the amount of heritage that has been received. If this step has been completed, the next step is to discuss and decide how much the profit and loss shares of the musharakah contract.
The last step is profit and loss sharing, as the term of profit and loss sharing, it is expected that the musharakah subject also implemented the profit and loss sharing concept. In the musharakah contract the profit shares and loss shares depends on participation issued of inheritance wealth, meaning the business deal that has been decided on the portion ratios of business. For example, The heir that has decided the portion ratios in the amount of 60 : 40 shares, this explained that there are profit shares between subjects on 60 : 40 shares and also there are loss shares between subjects on the 60 : 40 shares of business. According to Usmani (Khan, 2008) the suggested procedure regarding profit and loss sharing between subjects if (i) the loss, if any, should be borne by the investors only in exact proportion of their respective investments; (ii) the average balance of the contributions made to the musharakah account calculated on the basis of daily products shall be treated as the share capital of the financier; (iii) the profit accuring at the end of the term shall be calculated on daily product basis and shall be distributed accordingly.
To improve the business that based on the inheritance resources, either it consists of physical or human resources and it can be suggested to involved in small-scale business (SSB). Mohsin (1995) define the small-scale business as a business that owned and managed by the same person and employing fifty or less persons at a time. Small-scale business is advantageous for the heirs, which means that it has provided that the heirs do not have to force themselves invest a lot of portion of received heritage to start big business ideally. In addition the presence of small-scale business is helping and expected to empower the family member and the closest families even the neighbor, which deemed has weak economic conditions. Mohsin (1995) asserted that the people centered feature of the Small-Scale Business also helps in the deconcentration of economic resources. In most developing countries, poverty is often caused less by an absolute shortage of resources than by their skewed distribution. The decentralization of development through small-scale business can be one of the most important methods of action in preventing the urban `pyramiding' of industrial enterprises. This condition is in line with Allah command that contained in surah Al-Hasyr (59) verse 7, to alleviate the perpetual distribution among the capital owners. If the small-scale business is considered by the heir, it should be understand that the small scale business characterized by three distinct features (Mohsin, 1995: 19-20), that is
a. The units of operations are very small, much smaller than their counterparts in the formal sector.
b. The sector is very active, but shows little evidence of the upgrading of size, technology, products, etc., which would denote structural transformation for linking with the mainstream of development.
c. The sector as a whole has not contributed to the entrepreneurial and technical skills needed for healthy industrial growth. However, the informal sector has survived economic vicissitudes much better than the modern sector. It is essential that this attribute of the informal sector be fully exploited in the national economic interests of the country. But at the same time, there must be a smooth transition from the informal to the formal sector in a country's economy.
This mechanism is devised in hoping that the inheritance that has been bequeathed by the deceased expected to have a better and prosperous life next. The combination between productivity and distribution of wealth in case of inheritances would cause a dissent. In this paper, the author optimist that repurposing the inheritance wealth would be beneficial to the heir, which means conducting business on the distributed heritages.
On the contrary, Haslett (1986) assert that inheritances contravenes to the idea of productivity. Because there are injustice within inheritance wealth apparently between the wealth people and the less wealth people who works eight hours daily and when the
death comes the benefit that passed down by the wealth deceased and the less wealth deceased would cause disparity. However, there still possibility that inheritance could be beneficial if distributed proportionally.
The main point of this paper is to prove that redistribution is the ideal media to tighten the relationship of Muslim brotherhood. Al-Jarhi (1985) added that by effective redistribution of wealth could further facilitate the attainment of full employment and the redistribution in the inheritance system will force the wealth of an individual to be redistributed after his death among a group of specific heirs in a prescribed manner. In fact in certain cases Levin (2003) mention that some of heirs is forced to sell the estate’s real property to pay estate taxes. This case has shown that instead of keeping the heritage and used aimlessly, even liquify the heritage to evade taxation problems, the musharakah concept that implemented in Islamic small-scale business should empower the family.
Levin (2003) suggest that a post-mortem conservation easements that can significantly reduce taxes and retain their lands. Also he proved that this idea is a new planning opportunity and remains a valid and effective way to prevent unprepared heirs and devisees from having to sell of their family lands to pay the heritage tax liabilities.
6. CONCLUSIONS AND RECOMMENDATIONS
As matter of fact, the concept of inheritance is existed since the human created by Allah, thus the concept is the same old with the human civilization. However, inheritance is double’s edged sword either that would tighten the brotherhood or ruptured the relationship among Muslim. The basic concept of inheritance is to redistribute the wealth among family even Muslim after death time. Distribution is also considered as one of the way to attain full employment if managed wisely, which means invested to start a new business rather than kept as saving to fulfill the consumption needs. By developing a certain mechanism in combining inheritance and partnership in form of joint ventures is expected to develop the heritage to be more productive. In certain case this kind of mechanism is considered a valid and effective way to prevent bad happening for the heirs in the future.
It is realized that this mechanism is an immature concept, but if it could be arranged and implemented in future, optimistically it would guarantee would pull some string to bring the heir to prosperous. And also, this model faced a certain problem, which is human problems that sometimes could inflicts a conflict between family member, because the ego-selfishness- factors that driven people, so they could never be satisfied to what had they received.
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