And most of the followers of Mālik and al-Shāfiʿī say that this is prescribed only for financial acts of worship. Nevertheless, it was not the practice of the early Muslims, when they performed voluntary prayers, fasted, performed Hajj, or recited the Quran, to dedicate the reward to their deceased fellow Muslims or to particular individuals among them. Rather, their practice was as described above. People should therefore not depart from the way of the early Muslims, for it is better and more complete. And Allah knows best.
He was asked:
Is the following an authentic hadith or not: “If someone declares ‘There is no deity worthy of worship except Allah’ seventy thousand times and dedicates it to the deceased, it will deliver the deceased from the Fire”? If a person repeats this declaration and dedicates it to the deceased, does its reward reach him or not?
He answered:
If a person repeats this declaration in this manner—seventy thousand times, or fewer or more—and its reward is dedicated to the deceased, Allah benefits him thereby. This is neither an authentic nor a weak hadith. And Allah knows best.