Module 7 - Capstone: Integrating Shariah Compliance Across the Financial Planning Process
What this domain tests
Module 7 is the integrative domain of the Shariah RFP capstone. Rather than testing a single contract in isolation, it checks whether an end-to-end plan - data gathering, risk management, investment, retirement, zakat and estate distribution - is internally consistent and Shariah-defensible. Expect scenarios in which a conventional recommendation must be re-engineered or rejected.
Core rules
- Clear the three prohibitions first (riba, gharar, maysir), then map each recommendation to an approved contract: murabaha, ijarah, mudarabah, musharakah, wakalah or kafalah.
- Takaful rests on tabarru' contributions into a risk pool plus a wakalah or mudarabah operator fee; the operator does not indemnify from its own capital the way a conventional insurer does.
- Zakat is a planning outflow, not a tax: generally 2.5% on zakatable wealth held for a hawl, settled before estate distribution.
- Shariah governance: a recommendation should be traceable to the product's Shariah committee or SAC resolution, not to the planner's personal view.
- Distribution order at death is fixed: funeral and debts, then wasiyyah (capped at one-third, and to non-heirs), then faraid.
Worked example
Net estate RM900,000 after debts; heirs are a widow, a mother, one son and one daughter. Widow takes 1/8 = RM112,500; mother takes 1/6 = RM150,000; residue RM637,500 splits 2:1 - son RM425,000, daughter RM212,500. A wasiyyah of RM300,000 to charity sits exactly at the one-third cap and is valid; a bequest of RM400,000 would be trimmed to RM300,000, with the surplus returning to the faraid heirs.
Traps
Treating a takaful nomination as automatic ownership - it is generally wakalah for distribution, so proceeds still follow faraid unless a valid hibah was executed in life. Taking wasiyyah before debts and funeral costs. Forgetting zakat on business assets, gold or savings. Recommending a conventional facility 'wrapped' with a Takaful rider. Quoting investment returns without purifying non-compliant income.