Al Rajhi, as-Salihin tie up to offer 'wasiah' services
AL RAJHI Bank Bhd and as-Salihin Trustee Bhd (as-Salihin) recently announced a strategic partnership on the distribution of Islamic estate planning (IEP) services.
As-Salihin, one of the leading IEP service providers in the country, will be banking on Al Rajhi Bank's customer base to expand its market reach.
Al Rajhi Bank, meanwhile, will leverage on as-Salihin's service offering and knowledge expertise in the IEP industry.
The partnership is aimed at further promoting the understanding of IEP in Malaysia as there is a general lack of understanding and shortage of demand for services that fall under IEP, namely "wasiah" or will writing.
"The general Malaysian public, Muslims in particular, have yet to realise the importance and consequence of failing to plan the distribution of estate.
"Being a fully IEP services provider, we hope that as-Salihin's services will appeal to our Muslim customers who are concerned about estate distribution based on 'faraid' or Islamic law of inheritance," AlRajhi Bank director of retail banking Sabry Ghouse said at the signing ceremony in Kuala Lumpur on Friday.
He added that it was in line with the bank's vision to be at the forefront in delivering innovative wealth management solutions that are in line with syariah guidelines.
Al Rajhi Bank opened its first Malaysian branch four years ago in Kuala Lumpur and now has 20 branches in the Klang Valley region and other capital cities throughout Malaysia.
Its customer base has increased to over 130,000.
As-Salihin, one of the leading IEP service providers in the country, will be banking on Al Rajhi Bank's customer base to expand its market reach.
Al Rajhi Bank, meanwhile, will leverage on as-Salihin's service offering and knowledge expertise in the IEP industry.
"The general Malaysian public, Muslims in particular, have yet to realise the importance and consequence of failing to plan the distribution of estate.
"Being a fully IEP services provider, we hope that as-Salihin's services will appeal to our Muslim customers who are concerned about estate distribution based on 'faraid' or Islamic law of inheritance," AlRajhi Bank director of retail banking Sabry Ghouse said at the signing ceremony in Kuala Lumpur on Friday.
He added that it was in line with the bank's vision to be at the forefront in delivering innovative wealth management solutions that are in line with syariah guidelines.
Al Rajhi Bank opened its first Malaysian branch four years ago in Kuala Lumpur and now has 20 branches in the Klang Valley region and other capital cities throughout Malaysia.
Its customer base has increased to over 130,000.
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