THE 10th ISLAMIC BANKING, ACCOUNTING AND FINANCE INTERNATIONAL CONFERENCE 2022
(iBAF 2022)
Review of Blockchain-based Governance Framework for the Frozen Estate in Malaysia
Ummu Sulaim Azmin
Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Bandar Baru Nilai, 71800 Nilai, Negeri Sembilan Malaysia
Tel: +6017 905 8502 E-mail: ummusulaimazmin@raudah.usim.edu.my
Khairil Faizal Khairi
Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM), Bandar Baru Nilai, 71800 Nilai, Negeri Sembilan Malaysia
Tel: +6017 260 1814 E-mail: khairil@usim.edu.my
Abstract
In Malaysia, the frozen estates or inheritance properties are managed by Civil High Court, Syariah Court, Land Office and Amanah Raya Berhad. The beneficiaries or heirs should make a claim of inheritance properties to the authorized or administrative agencies that managing estates distribution. Each of the agency have their own function and there are procedures need to follow before making the application to claim the deceased’s estates. The problem in managing frozen estates are time and cost issues, irresponsible attitude of the heirs and the complexity of the current governance. All problems effects the increasing the issues of frozen estates in Malaysia to RM70 billion in 2020. This study implement the blockchain-based governance framework for the frozen estates in Malaysia. Blockchain technology is a decentralized databased that bring all the agencies and the heirs to make transaction or the right transfer process on a single platform using blockchain-based system.
Blockchain technology provides transparency, immutability, security, and real-time transaction. This study use basic qualitative research methodology that analyses the issues and challenges in managing frozen estate and current governance in managing frozen estates. Lastly, this study proposed the comprehensive blockchain-based governance framework for the frozen estate in Malaysia. Thus, the framework will strengthen the management of frozen estate among Muslim and can ensure justice and social wellbeing of the heirs.
Keywords: Blockchain Technology; Frozen Estate
1. Introduction
Frozen estates are the property that detained from any transaction, unclaimed or delayed claim of the estates by the heirs until all the deceased’s estates are completely distributed. Thus, frozen estates are the big issues that should be taken seriously by the authorities or administrative that involve in this matter. Blockchain technology is a significant advancement in the era of the fourth industrial revolution (IR4.0). Blockchain technology has the revolutionary potential to resolve many global community's existing challenges. The discussion of this technology has received a lot of attention in public. It combines three established technologies: private key cryptography, peer-to-peer networking, and a consensus procedure. Blockchain technology can change from an uncertain to a trustworthy transaction (Nur Husna Zakaria & Munir, 2018).
Based on the statistics, the number of frozen estate or unclaimed estates are increasing in Malaysia. In 2007, the value of unclaimed estate is RM40 billion (Rejal Arbee, 2007). In 2014, the value of frozen estates is more than RM52 billion with more than 1 million number of inheritance cases (Badrul Hafizan Mat Isa, 2013). In 2016, the number of frozen estates increase to RM60 billion (Anon, 2016) and more than RM70 billion frozen estates in 2020 (Ekhwan Haque, 2020). There are 90% from the total amount of frozen estate are Muslim properties. The value of inheritance properties is increasing from time to time because of the inflation of the inheritance properties and the increasing of the new cases of the deceased’s estates. These statistics trigger the importance of managing the frozen estates and inheritance properties with the right methods so that the problems can be solved, and the Muslim societies will gain benefits from its to enhance the economic growth.
The legal system in Malaysia has been influenced by British policy and administration affects the Muslim Malay community in the management of their estate especially in terms of administration and distribution (Noraini Noordin et al., 2012). As a result, there are three agencies that manage and administer the Muslim estate in Malaysia, namely the High Court, the Small Estate Distribution Section of the Department of Director General of Lands and Mines (land office) and Amanah Raya Berhad. Meanwhile, the Syariah Court only has the power to issue Faraid certificates to determine faraid's heirs and the share of Faraid, verify the will (if any), and if issues arise involving the validity of the marriage, the confirmation of the heirs and the rights of the heirs (Noraini Noordin et al., 2012).
Numerous studies on the factors of delay in the division of the estate have been carried out. Wan Suraya Wan Hassin et al. (2016) found the factors that contribute to the problem of frozen estates in Malaysia are the attitude of the property owner, the factor of heirs and legal factors. Rusnadewi and Nur Inayah (2010) stated the failure settlement of the estate is due to the ignorance of the heirs, the lacking understanding of the concept of the actual inheritance of property by faraid, the existence of various jurisdictions in the administration of the estate in Malaysia that can confuse the community, the delay of the process in the management of the estate and weakness of the estate administration system. Most of the delay factors indicate is due to the disagreement of the heirs regarding the administration of the estate in Malaysia. So, it is a necessity to explain matters related to estate administration in Malaysia since there are not many studies done regarding the scope of administration and law of the frozen estate (Roslan & Ahmad, 2022).
Then, the development of blockchain technology using smart contracts can be applied in most administrative agencies because the qualities of secure and irreversible, distributed ledger, decentralized data management, transparent and auditable, efficient, low cost, coordinated, and adaptable (Guo & Liang, 2016). Essentially, blockchain is a decentralized, distributed ledger system that ensures data security, transparency, and integrity. The administration and inheritance property claim process take four months to a year to be completed depend on the complexity of the process (Wan Nur Izzah et al., 2021). Each beneficiary needs to complete several processes to obtain their share of inheritance property. The blockchain technology can streamlines the entire process using the ability of decentralized databased that can record all the transactions that occur including real estate certificates, the changes, digital maps, and settlement records with the evidence that cannot be tampered or destroyed, and the transaction is transparent and very secure.
The structured of the paper is as follow; a past research related to the management of frozen estate in Malaysia and the issues of current governance are discussed to see the need of applying blockchain technology and what is the opportunities of using blockchain technology in managing frozen estate. Besides, the research methods introduced are about the reviewing the past literature about the frozen estate and blockchain technology. Lastly, the discussion about the blockchain-based governance framework for the frozen estate, and conclusion are included in the last part of the paper.
2. Literature Review
2.1 The Management of Frozen Estate in Malaysia
There are four institutional that manage the inheritance property that will discuss here including the Civil High court, Syariah Court, Amanah Raya Berhad and the Department of Director General of Lands and Mines (Land Office). Based on legal framework, the beneficiaries or heirs should make a claim to the authorized or administrative agencies that managing estates distribution. Based on the Malaysian law, all the estates become frozen after the declaration of death till granted probate from the High Court. All large estates or non-small estates falls under the jurisdiction of the Civil High Court. Before application to claim the deceased estate is made, the beneficiaries, or appointed lawyer or trust corporation need to have grant of probate or letter of administration.
The process to have grant of probate will take a lot of time before the estate can be distributed.
The Syariah court will manage the case that related to Muslim only. The Syariah Court has right to issue inheritance certificate after the death of a Muslim by determining the eligible heirs and certify the shares. The cases that manage by the syariah court including wills, gift inter vivos, division and inheritance of testate or intestate property and others that brought under Act 505, the Administration of Islamic Law (Federal Territories) Act 1993 under section 46, jurisdiction of Syariah High Court.
Amanah Raya Berhad (ARB) is the administrator and executor that managing movable estate that value under RM600,000 of the deceased’s estates testate or interstate. If the estate is less than RM50,000 in cash, ARB can issue order and deliver it to the heirs. But if the estate in between RM50,000 to RM600,000, ARB will make declaration and determine the net estates of the deceased. Then, ARB will prepare a statement of account of the estate, and the estates will distribute according to Faraid.
The Department of Director General of Lands and Mines (Land Office) has the authority to manage the administration and distribution of the small estate matters. Based on the Small Estates (Distribution) Act 1955 under the Amendment Act A1331, the ceiling values of the small estates increase from RM600,000 to RM2
million in 2009. However, based on Small Estates (Distribution)(Amendment) Act 2021 under section 3, small estates mean estate of a deceased person that consist of any property situated in any state (substituting the wholly or partly of immovable property) and not exceeding RM5 million in total value (substituting for not exceed RM2 million). Based on the Principal Act, the requirement that the deceased must have died interstate remains to be apply.
Therefore, it is important that the administration of the estate be scrutinized to ensure that the surviving heirs inherit the property of the deceased. If the deceased’s estate is not properly administered, the distribution of inheritance will be a complex matter and trigger the concern of the beneficiaries. The existence of several estate administration agencies and the legal stated caused confusion to the public, and there have been grievances and criticisms by blaming the Land Office, Syariah Court and other agencies when the issue of inheritance cannot be resolved, disputes over the heirs and others (Wan Nur A'ina Mardhiah Wan Rushdan et al., 2021). Thus, the failure to contain this problem is due to the legal constraints and negative social and cultural practices of the society that need to be studied to find a comprehensive solution to overcome the problem.
2.2 Issues / Problems related to Frozen Estate
There are a lot of issues that lead to the increasing number of frozen estates in Malaysia. The problem in managing frozen estates that will discuss here are time and cost issues, irresponsible attitude of the heirs and the complexity of the current governance. These problems are related to each other that cause the increasing number of frozen estates in Malaysia.
2.2.1 Time and Cost Issues
Firstly, the process of claimed inheritance properties consume a lot of time. The process or procedure in both Civil and Syariah Courts take time to process the claim. Consequently, the inheritance cases must be processed by the heirs through both Civil and Syariah courts will lead to a high cost of time and money (Azi Haslin Abdul Rahman & Rusni Hassan, 2020). The claim process of inheritance property may take three to ten years for normal cases and can up to more than 20 years for special cases that have a lot of issues (Yaacob, O., 2006). In addition, the public's notion that adequate faraid and high claims processing costs together with complex claims processing matters also contribute to the problem of property that is not claimed (Ahmad Hidayat Buang, 2008). The impact of this problem led to the increasing of frozen estates which resulted losing billions of assets value of Muslims and contributing losses to the country in the absence of economic generation.
2.2.2 The Irresponsible Attitude of The Heirs
The unawareness and lack of knowledge of the heirs will make the process more difficult. Most of the heirs have difficulties to complete the claim form of inheritance and comply all the documents needed in the process (Abd Ralip, 2011). The heirs do not know the right procedures to start with and the process to claim the frozen estates. Then, the heirs are delaying the process because of time constraint, lack of understanding and only relying to other relatives (Mohd Fauzi Mohd Yusoff, 2004). Besides, the absence of nominees, loss contact of other heirs and no heirs of the estates also the reasons of increasing frozen estates (Mahamood, 2006).
Rahman et. al (2016) said that the cause of delay in managing and settlement of the inheritance properties is due to the lack of consensus and understanding between the family members. Then, the people that has no knowledge and do not understand the different jurisdiction and diversity of the estate management institutions in Malaysia also lead to the delay of inheritance distribution (Rahman et. al., 2016). In the end, it will result in the estate claim not being fully implemented or left halfway through.
2.2.3 The Complexity of The Current Governance
In Malaysia, the current governance of frozen estate involves the jurisdiction of the federal government and state government that provide under the Federal Constitution. This make the management of claims of Muslim estates is quite complicated because involve with different administrative agencies. The procedural laws relating to estate claims are provided under the ninth schedule, list 1 item 4(e) involving the entire Malaysian community, both Muslim and non-Muslim. While for the management of Muslim property, Islamic law in relation to inheriting property, testate and intestate is under the jurisdiction of the state in the ninth schedule, list 2 item 1 (Jasni Sulong, 2011). In short, grant of probate or letter of administration issued by high court and land office, and certificate of faraid issued by the Syariah Court of the states are required by Muslims to enforce the distribution of inheritance (Mohd. Ridzuan Awang, 2008).
Mohd. Al-Adib Samuri (2016) raised the issue of conflict of jurisdiction between the Civil High Court and the Syariah Court when a case related to a Muslim's inheritance is decided by the Civil High Court. There is the
problem of unclaimed property from several circumstances such as the beneficiaries of the property has died, not yet old enough, has disability of thinking, undetected, and there was a dispute and discontent among the heirs (Mahamood, 2006). Noraini Noordin et al. (2012) discusses two main factors contributing to delays in the distribution of estates which is the process of obtaining an administrative power of attorney involving many parties with different procedures, and the heirs who are less proficient in estate administration. Thus, the administrative agencies such as High Court, Syariah Court, Land Office, and Amanah Raya Berhad need to have proper guidelines of their jurisdiction and need to educate the heirs regarding the process to claim frozen estates.
2.3 Blockchain Technology
Blockchain technology is a distributed ledger that connect between blocks of data. Blockchain technology use public key encryption to save all the data and the history of transaction that involved in every ledger and the block will get notified if any change happens in the network (Drescher, 2017). Based on the structural perspective, blockchain has a structured using distributed database. Decentralized blockchain are immutable that secured via cryptographic algorithms that control each block in the chain (Bailis et al., 2017; Hawlitschek et al., 2018). There are three categories of blockchain technology that is permissionless, permissioned or combination of both categories. Permissionless blockchains defined the blockchain with no restriction on the nodes as it enables any user to join the blockchain network and become nodes. Permission blockchain has limit the right of nodes on the blockchain network. The access to the permission blockchain network limited to the specific nodes. Only the permissioned blockchain user can have access to the identity and database of the network. Blockchain technology is cost efficient because it can reduce the several cost like the transaction cost or administrative cost (Casino et al., 2019). Thus, blockchain technology eliminate the intermediaries using decentralized structured that enable the interaction between users to make transaction more efficiently and more quickly.
2.3.1 Transparency
Blockchain enhance the transparency of the system network that will eliminate the centralised authorities.
Transparency is how the information is accessible to all the counterparties in the network (C. Bai & J. Sarkis, 2020). Therefore, transparency is very necessary to emerge secure environment that associated with the blockchain. The highest level of transparency increases the trust between the administrative agencies and the beneficiaries, increases the efficiency of the services and can reduce expenses. Blockchain technology has tampering-proof mechanism that help to increase the level of transparency. All the transaction are recorded and store in the blockchain system. It will enhance the transparency of the status information that improve time efficiency and automation system of inheritance properties. The transparency of the process and the efficient of the management increase the distribution of the frozen estate to the beneficiaries. All the agencies in the blockchain network will get benefit of the transparency that enable time control of necessary steps by using automated smart contract (B. Fahimnia, et al., 2015). Blockchain technology enable transparency and privacy because data is stored in private-permissioned ledger that allow administrative agencies managing the frozen estate while assure the data privacy of the clients. To achieve the high transparency, need access control to the authorised data of a private-permissioned blockchain so that the access to the information is more secure and effective.
As a decentralized databased, blockchain bring all the stakeholders including all related agencies and the heirs to make transaction or the right transfer process on a single platform using blockchain-based system. Each party can see all the estate distribution transaction because of the transparency of the network. Blockchain technology with smart contract provides a lot of advantage in the estate distribution process because of the transparency and immutability to track the ownership and division. Blockchain technology can increase the transparency of the system that will result the less of failures (Zelbst et. al., 2019). Each party can see all the estate distribution transaction because of the transparency of the network and each of the transaction is permanently recorded and accurate in real-time that will increase the trust of the heirs for the estate distribution process using blockchain technology. All data that stored in the system can be accessed by all authorized parties. The heirs or beneficiaries can view the progress and completion of the deceased’s estate distribution. Blockchain technology has the potential to increase the transparency using shared visible ledger (Zelbst et al., 2019). Thus, the element of transparency in blockchain network will increase the performance of the frozen estate’s management.
2.3.2 Security
Then, blockchain technology has structured data using recordkeeping system, provide high security of digital platforms and cost efficient (Andoni et al., 2019; Puthal et al., 2018). Blockchain is a chain of information that connect with other block using peer-to-peer protocol that track all the transaction in the network (Swan, 2015).
The technology saves the history of transaction using timestamp digital document and cannot be backdated or
tempered. Usually, the digital texts, audio and video has a problem to verify the originality or the last altered because it can be amended without supervision, cannot be track and ease to manipulated by someone that has interest (Swan, 2015). So, there is no issue of duplicated records or the manipulation of data using blockchain technology that control the system of databased without the central server.
Blockchain technology can be used in managing frozen estate because it can enhance the levels of systemic risk than conventional technology. Blockchain provide latest information to the application that use asymmetrical encryption methods refer as public or private keys. Blockchain technology using cryptographic security can enhance the protection of the transaction, transfer, and storage for personal and sensitive information. The protection is at the high level that provide the mechanism of tracking and interoperability of data between various devices. The success of blockchain application is dependent on one of the components of blockchain technology that is the security.
To ensure the functionality of the system, the proof of work (PoW) mechanism is the key aspects of security.
A new block must be generated in the network nodes to verify and save the recent transactions. To generate new block required solving extremely computationally intensive mathematical puzzle. Data security is very important to protect any digital information from unauthorized activities during the transaction. The information in the blockchain network is protected by the encryption so that the aspect of information security is at the high level (Alizadeh et al., 2022). The rules and restriction of the consortium and hybrid blockchain strengthen the security of the network. Blockchain need high integrity and security of the transaction and maintain the privacy of the nodes to prevent any attacks to the system (Yli-Huumo et al., 2016). In blockchain network, the privacy is maintaining by limit the information without the identities to the transaction (Nakamoto, 2012).
2.3.3 Traceability
Blockchain technology make the recorded data immutable that form trust between users because of the transparency and traceability transactions (Panisi, 2017). Blockchain has traceability system that can be solution for the current system because it has the characteristic of decentralized and tamper-proof mechanism. Traceability allows the documentation and locates the inheritance properties and distribution of frozen estate from the owner to the heirs. Traceability system will help to collect the relevant data, define information and be the communication protocols. Thus, all the information will be managed and presented clearly to all agencies in the network.
The information or transaction that happen in the blockchain network can easily be traced because all the history of the transaction are recorded based on the real-time. Blockchain technology is capable to record, process, filter data, store and analyse data based on the need of the network. Blockchain technology that have the advantages of transparency, decentralization, security, and immutability can solve the problem of untrustworthy device. So, the permissioned blockchain that used in managing frozen estates aims to create information chain accessible and traceable data in the blockchain network that can help all the agencies get access to the data without any manipulation because all the history of data are traceable to the person or agencies that have permission to access the data in the chain.
2.3.4 Real-time Transaction
Blockchain technology provides immutability, transparency, and real-time transactions (Abu bakar & Al- zyoud, 2021; Werner et al., 2021). The administrative agencies and the beneficiaries can monitor the distribution of the deceased’s estate in real-time. All the related agencies can manage frozen estates online in real-time using blockchain technology. When other agencies update the status of the estates, the other agencies can monitor and make changes to the transactions in real-time. Each of the transaction is permanently recorded and accurate in real-time that will increase the trust of the heirs and for the estate distribution process using blockchain technology.
3. Methodology
In analysing the social economic burden of frozen estates in Malaysia, this study focuses on the components related to the issues and problem of managing frozen estates and current governance of frozen estate that led to the increasing number of frozen estates in Malaysia. Then, this study also focuses on the element that contain in the blockchain technology. This study adopts the qualitative research methodology by using the content analysis technique. The content analysis is including the interpretation, synthesis, and documentation procedures on the gathered information through the past literature such as published articles about frozen estate, official websites, newspaper articles, reports, and published articles on management of inheritance properties and blockchain technology. This data is essential to publicly look at the issues faced by the agencies that manage the distribution of estates towards the existing implementation.
4. Discussion
This study proposing the blockchain-based governance framework for the frozen estate in Malaysia. The framework contains the component, problem, effect, solution, concepts, outcome, and benefits based on the literature review from past studies. The component is about the frozen estates or the inheritance properties of Muslim community.
Figure 1: Blockchain-based Framework for Frozen Estates
Based on figure 1, there are a lot of issues regarding the distribution of inheritance properties including the time and cost issues, the irresponsible attitude of the heirs and the complexity of the current governance that managing deceased’s estates in Malaysia. However, with the advancement of technology nowadays give a lot of opportunities by implementing the blockchain-based network to manage the frozen estates. Blockchain technology is a decentralized database network that use block and chain in a network with the elements of transparency, security, traceability and real-time transaction.
Then, the administrative agencies that managing the distribution of decease’s estates are the High Court, the Syariah Court, Land Office and Amanah Raya Berhad. All agencies have their own standard and procedures to manage the frozen estates. The conceptual framework is involving the problem and concepts of managing frozen estate and the elements of the blockchain technology. The development of blockchain-based governance framework for frozen estates in Malaysia have the benefits of cost and time effective and data transparency.
5. Conclusion
This on-going study is hoped to establish the blockchain-based governance framework for the frozen estate in Malaysia. Thus, the blockchain-based framework will optimize the distribution of frozen estate with the transparency of data, cost, and time effective. In the future, the issue of frozen estate will be managed efficiently, and the current governance can be improved.
Acknowledgements
The authors would like to express appreciation for the support of the sponsor from Ministry of Education (MoE) under the Fundamental Research Grant Scheme (FRGS), project number FRGS/1/2021/SS01/USIM/02/4.
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