An pledge made by a person during his lifetime with respect to his properties or benefits thereof, to be carried out for the purposes of charity or for any other purpose permissible by Islamic Law, after his death.
It is a legal document in which you declare your wishes for your loved ones and how to distribute your assets after you passed on.
For a Muslim to write a Wasiat and to make a bequest of one-third (1/3) of his assets to his loved ones, be they Muslims or not, or to charity so long as it is made in accordance with the Syariah.
Conventional Will (Non Muslim)
A conventional Will is a document of declaration (Legacy Testament) that allows an individual to appoint an Executor, Administrator and Trustee (including Testamentary Trust) to administer and distribute their wealth and assets to their beneficiaries after death and is subjected to the Will Act 1959.
Hibah are the non-refundable possession of property owned by a Trader while living voluntarily. An agreement / contract of giving one's property to another, during his voluntary life without the expectation of repayment.
Hibah Saham Koperasi KHAS (sAMANAH)
MAAB is partnering with a Cooperative that is interested in offering a Shariah-compliant Inheritance Property Planning instrument that incorporates the concept of Grants and Trust compared to the previous Nomination.
The Cooperative Shareholders' Trust grant offered by MAAB, in which the shareholder / lessee will distribute his or her cooperative stock to the Beneficiary and will transfer the grant to the Beneficiary upon the death of the Shareholder. However, this cooperation requires the cooperative to review and amend the Cooperative By-Laws for the implementation of the Grants if necessary.
Even though Wills (Muslim & Non-Muslim) may be regarded as a matter of course by some, the choice of an executor is clearly another matter that requires careful consideration.
An Executor is a person appointed in a Will to carry out The Testator's wishes and instructions. However as an individual, the executor may fall sick, pass away or decide not to act. Hence, to ensure continuity of the administration to all heirs/beneficiaries, it is clearly more advantagesous to appoint a corporate body or Institution as an Executor instead of an individual. Appointing a professional and experienced Executor is vital to avoid Legacy Risks in the future.
MAAB, registered under the Trust Act 1949, is bound to abide by stringent statutory provisions legislated for the protection of beneficiaries under its wings. It has perpetual successions and need not produce sureties to act as your Executor or Substitute Executor.
- Amanah Takaful/ Amanah Insurans
The best way to ensure that the takaful / insurance compensation is distributed and managed to the intended beneficiary / beneficiary is by making a Amanah Takaful/ Amanah Insurans, where the policyholder will appoint MyAngkasa Amanah Berhad (MAAB) as Trustee for the takaful / insurance compensation available for distribution and dealt with the intended recipient / beneficiary in accordance with the terms and conditions of the Trust Deed.
- Amanah Tunai
MyAngkasa Amanah Berhad offers two types of Amanah Tunai :-
May provide immediate source of income to beneficiary upon death of the donor pending the completion of the beneficiary's estate and distribution as may be required by law or the donor to distribute the Fund / Capital Trust for certain purposes and wishes to the beneficiary.
Trusts received from Institutions / corporations / government agencies / foundations / clubs / companies / associations / corporations or corporations that provide trust funds for funds / capital trusts are distributed to recipients / beneficiaries for specific purposes and wishes of corporate donors.