Originating from Islamic law, the term "Hibah" signifies a voluntary gift given by one party to another without the expectation of compensation. A Hibah Trust enables individuals to transfer the ownership of a specific asset to MTB during their lifetime, incorporating specific conditions and instructions for the distribution of the said asset to their intended beneficiaries upon a triggering event.
Hibah Trust
Gift a specific asset in line with the Shariah law, ensuring financial security and peace of mind for yourself and your beneficiaries
How does a Hibah Trust work?
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| Step 1: Creation of Hibah with Maybank Trustees Berhad | Step 2: Transfer of Hibah asset to MTB | Step 3: Asset distribution to client’s beneficiaries upon triggering event or demise |
Why is it important to have a Hibah Trust?
- A Hibah Trust ensures one’s asset distribution aligns with Islamic principles, offering peace of mind to individuals who seek to adhere to Shariah principles in their wealth management strategies.
- With a Hibah Trust, individuals can expedite the transfer of assets to beneficiaries, bypassing the lengthy and often complex probate process. This streamlines the inheritance process, ensuring swift access to financial resources for loved ones.
- Hibah Trusts allows individuals to gift a specific asset to vulnerable beneficiaries, charitable causes, or preserving a specific asset.
Have an inquiry?
📞 03-2177 5960
✉ mtb.bd@maybank.com
at the nearest branch