Publication Type
Journal Article
Version
publishedVersion
Publication Date
6-2023
Abstract
Malaysia, being a former English colony, inherited a corpus of English law which includes equity and trusts. In recent times, major banks, financial institutions, and trust companies have reimagined the English trust in combination with Islamic law, by offering an innovation called the hibah trust. This instrument represents the Islamisation of the English trust concept where the Islamic idea of the hibah, an inter vivos gift and the English trust is combined as a wealth management offering to clients. This article explores how the hibah trust works, reasons why institutions may be offering this hybrid instrument, and potential challenges to its validity both in the civil and Syariah court.
Discipline
Asian Studies | Estates and Trusts | Religion Law
Research Areas
Asian and Comparative Legal Systems
Publication
Asian Journal of Comparative Law
First Page
1
Last Page
16
ISSN
2194-6078
Identifier
10.1017/asjcl.2023.19
Publisher
Cambridge University Press
Citation
TANG, Hang Wu.
The Islamisation of the English Trust: The Hibah Trust in Malaysia. (2023). Asian Journal of Comparative Law. 1-16.
Available at: https://ink.library.smu.edu.sg/sol_research/4280
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Additional URL
https://doi.org/10.1017/asjcl.2023.19