(Myself and my client interviewed by BERITASuria, Malay news channel, few days ago. Click the link to view video)
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This new fatwa, is a fatwa that has been much welcome by the Muslim community who owns insurance policies in Singapore .
The fatwa will affect all Muslims who have an insurance policy with insurance companies in Singapore with effect from Sept 2009. This is because since Sept 2009, Muslims can only use irrevocable nomination for their insurance policies and there are many limitations to it.
This fatwa does not affect policy taken before Sept 2009. ……………………………………………………………………………………………………………………………………………………………………………. Before : Can only make Irrevocable nomination. When a policyholder does an irrevocable nomination, he will automatically gives up right of the policy to nominees. He cannot take a loan on the policy without the approval of ......