Trust Declaration in ASNB for non-Muslim Unit Holders

Amanah Saham Nasional Berhad (ASNB) has introduced the Declaration of Trust for the investment in ASNB Unit Trusts as they don’t allow a non-Muslim Unit Holder to make a nomination.

Without a Trust Declaration, the estate administration process is complicated and time-consuming. When a Unit Holder dies, the Executor or Administrator has to obtain the Court Order to claim and administer the deceased’s unit trust investments in ASBN and distribute it according to the Will or the Distribution Act (as Amended) 1958. Read more

Important of Writing A Wasiat

When a Muslim passes on, all his assets will be frozen. Without a Wasiat, all the lawful beneficiaries under Faraid principle will have to appoint an Administrator who is a person to administer the deceased’s estate and distribute it according to Hukum Faraid. The consent in writing must be obtained from all the beneficiaries for the appointment of Administrator. Under Syariah inheritance laws, a Muslim estate shall be distributed according to faraid distribution.
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