Distribution of investment shares to the heirs

Submitted by user2 on Wed, 2018-10-31 06:38

Q: A deceased relative held shares in Old Mutual and also received a few Quilter shares as a result of these shares in Old Mutual. When I went to submit the documentation today I was also told that since the 15th of this month the (deceased) shareholder received 8 Nedbank shares. The deceased also held shares in Retail Property (Pty) Ltd. These are held at Computershare. I do not know anything about shares and I do not know whether the beneficiaries can make use of the proceeds of the shares in terms of Sha'riah. In the event that, the beneficiaries cannot make use of the value of the shares then how best to dispose of them?

A: The beneficiaries should use the capital contribution and the additional amounts must be given out in charity to deserving poor persons.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

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