New Shariah-Compliant Discretionary Trust Launched in Africa in Support of Social Welfare 

Customers across the African continent can now opt for a Shariah-compliant discretionary trust that allows structuring of assets and estate planning according to Islamic guidelines. This facility is offered by South-Africa based Standard Bank.

Why it Matters?

In South Africa, as well as globally, there is usually a loss of wealth as such trust funds are passed down from one generation to the next. These trust structures facilitate a sustainable method of implementing inheritance rules to ensure that the needs of the beneficiaries and future generations are looked after.

Details

Shariah estate planning is expected to follow a specific defined framework in order for it to be deemed as Shariah compliant. The trust stru...