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Pascal Najadi wins right to inherit RM1.8 mil in cash, shares

Pascal Najadi wins right to inherit RM1.8 mil in cash, shares
KUALA LUMPUR: The Syariah High Court has ruled that Pascal Najadi, the son of slain Arab-Malaysian Development Bank founder Ahmad Hussain Najadi, won the right to inherit RM1.8 million in cash and shares left by the banker.
Syarie judge Nassir Abdul Aziz ruled that Pascal was entitled to the faraid (Islamic inheritance law) claim filed under Section 50 of the Administration of Islamic Law (Federal Territories) Act 1998.

He said Pascal, 46, deserved the money which comprised RM321,195.70 in his father's bank account, and 540,000 units of shares worth RM1.5 million at a company in Labuan.

However, the judge ordered that Ahmad Hussain's credit card bills amounting to RM32,208.70, be paid first before the rest of the money could be handed out to the sole beneficiary.
Nassir said based on documents presented, the court found the deceased had no other heir except for Pascal, and ordered for the ruling to take effect within seven days.

"Based on the facts presented, the court finds that Ahmad Hussain is survived by only one heir who is entitled to a 1:1 ratio of beneficial claim," he added.

Ahmad Hussain, 75, was killed while a woman, believed to have been his wife, was seriously injured when they were shot at close range by a gunman at a car park, upon emerging from the Kuan Yin Temple in Lorong Ceylon here on July 29.

Pascal, who is vice-chairman of his father's corporate advisory company AIAK Group, is Ahmad Hussain's only child from his first wife.

In his affidavit to support his application submitted by counsel Akberdin Abdul Kadir, Pascal said he was born in Switzerland on Aug 20, 1967 and held dual Swiss and British citizenships.

Pascal said his grandfather, Ahmad Najadi, died in Bahrain in 1998 while his grandmother, Balkis Najadi died in Iran in 2008.