KUALA LUMPUR: The sole heir of murdered banker Hussain Ahmad Najadi has inherited RM1.82mil in cash and shares from his father under the faraid law (Islamic law of inheritance and distribution).
Pascal Ahmad Najadi, 46, who is chairman and CEO of merchant finance advisory firm Najadi & Partners Sdn Bhd, had made an application for the faraid ruling under Section 50 of the Administration of Islamic Law (Federal Territories).
In his papers, Pascal sought for a declaration of the person entitled to the estate of the Arab Malaysian Banking Group founder who was gunned down here on July 29.
Hussain Ahmad, 75, an Iranian, was shot at close range at a parking lot while leaving the Kuan Yin Temple in Lorong Ceylon.
He died at the scene.
Syarie judge Nassir Abdul Aziz said based on the court documents, it found the banker had left a biological son consistent with syariah and faraid.
“The applicant (Pascal) is the sole heir of the deceased,” said the judge.
Nassir ordered for Hussain Ahmad’s bank savings of RM321,195 and 540,000 units of shares worth US$500,000 (RM1.5mil) in his Labuan-based company AIAK Capital Ltd to be given to Pascal.
However, Nassir directed Pascal to first settle his father’s Alliance Bank credit card balance of RM32,208 and other debts before the transfer of property to him.
The judge said the order was effective within seven days.
At the outset of the court proceedings, counsel Akbardin Abdul Kader told Nassir his client, born in Switzerland, was Hussain Ahmad’s sole heir and was seeking for the cash and company shares which were his father’s only property in Malaysia.
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