As published on hubbis.com, Monday 29 November, 2021.
Malaysia is highlighted as one of the most favoured trust jurisdictions alongside Jersey, UK, DIFC (UAE), British Virgin Islands.
Jersey Finance, which champions and represents the award winning global international finance centre (IFC) in Jersey, recently launched its landmark study on global attitude towards Islamic finance wealth management.
The groundbreaking study which collated the views of over 2,000 stakeholders in the private wealth sector globally, including from Kuala Lumpur, has some wide-ranging findings relevant for this fast-growing niche sector. For example, along with Jersey and other global IFCs, Kuala Lumpur is highlighted as one of the most favoured trust jurisdictions.
The report outlines several common issues facing the Muslim High Net Worth Individuals (HNWIs) globally such as the transition of wealth from one generation to the next, sustainable finance as well as the need for good corporate governance.
Key findings of the ‘Global Attitudes to Islamic Wealth Management’ report include:
In Malaysia, there are positive developments in underscoring the similarities between the principles of Islamic finance and the ESG. Evidently, the increasing traction for responsible investing can potentially serve as a steppingstone for a heightened appeal towards an inclusive and codified approach amongst the HNWI investors. These are essential data points for investors to consider in making informed and strategic decisions as to the way forward in their holistic financial planning.
The reportcompiles attitudes to private wealth, fiduciary planning and succession by Muslim families, taking into account the views of over 2,000 respondents across the key markets of the UK (London), Asia (Kuala Lumpur), the GCC and Africa (South Africa).