# Labuan IBFC Inc., ASAS and STEP Malaysia strengthen Islamic wealth planning practices

- Link: https://www.thailand-business-news.com/pr-news/labuan-ibfc-inc-asas-and-step-malaysia-strengthen-islamic-wealth-planning-practices
- Published: 2026-08-13T15:37:00+07:00
- Author: PR Newswire

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_Joint initiative highlights integrated approaches to wealth planning, succession
and cross-border solutions_

KUALA LUMPUR, Malaysia, Aug. 13, 2026 /PRNewswire/ — Labuan IBFC Incorporated Sdn
Bhd (Labuan IBFC Inc.), the official marketing agency for Labuan International Business
and Financial Centre (Labuan IBFC), together with the Association of Shariah Advisors
in Islamic Finance Malaysia (ASAS) and the Society of Trust and Estate Practitioners(
STEP) Malaysia  brought together industry practitioners and experts to explore the
intersection of Islamic wealth planning, estate administration and Shariah governance,
with a focus on cross-border wealth management and family governance.

 [⌊Ben Quah, CEO of Labuan IBFC Inc. presenting his opening keynote at the event⌉](https://mmx.prnasia.com/media/MS1969095/20260813011637EDT_image_1.jpg?id=OA2879642&p=medium600)

Ben Quah, CEO of Labuan IBFC Inc. presenting his opening keynote at the event

The forum brought together Islamic estate planning professionals, Shariah advisers,
trust and estate practitioners, wealth managers as well as legal experts to explore
effective approaches to preserving, managing and transferring wealth. Discussions
encompassed estate administration beyond faraid, Shariah estate administration governance,
succession planning and the use of trusts, takaful and other wealth structures.

In her welcome address, Mdm. Farah Deba, Branch Chair of STEP Malaysia, said,_ "
Beyond Faraid means faraid is only one part of estate planning. However, this does
not mean planning beyond Islamic principles. We come from three different perspectives–
where STEP speaks as advisors to families across generations while Labuan IBFC brings
the international family wealth and structuring dimension, whereas ASAS brings the
core Shariah perspective."_

Delivering the keynote address, Mr. Ben Quah, CEO of Labuan IBFC Inc., highlighted
Labuan IBFC’s role as a platform for Islamic private wealth planning and cross-border
wealth solutions. "_As wealth becomes increasingly global, families need flexible
solutions that offer asset protection and long-term continuity. Labuan IBFC is well
positioned to meet these needs while complementing Malaysia’s leadership in Islamic
private wealth through strong ecosystem collaboration," _he said.

The programme opened with "Beyond Faraid – The Real Challenges in Muslim Estate 
Administration," examining practical challenges in estate administration, while 
exploring solutions to translate succession intentions into effective estate planning.
This was followed by a dialogue which explored how effective governance and proper
documentation can help ensure wealth planning arrangements are implemented consistently
with Shariah requirements.

Labuan IBFC was then featured in "Labuan IBFC as a Platform for Islamic Wealth and
Family Governance," showcasing its flexible legal structures and solutions for cross-
border wealth management, succession planning and asset structuring.

The afternoon session focused on the practical implementation of wealth plans, covering
liquidity, takaful, trusts and other structures. Panellists outlined how these can
support wealth preservation, risk management and intergenerational wealth transfer.

The event concluded with a panel discussion on strengthening the Islamic wealth 
planning ecosystem, bringing together perspectives from wealth management, financial
planning, estate administration and Shariah practice. The discussion underscored
the importance of collaboration in advancing holistic Islamic wealth planning solutions.

In her closing remarks, Mdm. Yusaini Yusof, EXCO member of ASAS, emphasised, "_Shariah
governance ensures that the legacy is properly structured, successfully implemented
and ultimately serves Maqasid Shariah. ASAS shall continue to support this journey
for greater engagements and increased professionalism of the wider Shariah fraternity
and practitioners._"

The session builds on the strategic partnership established through the Memorandum
of Understanding between Labuan IBFC Inc. and ASAS, while further strengthening 
engagement with STEP Malaysia and the wider professional community.

For more information on Labuan IBFC and its Islamic finance and wealth management
solutions, visit [www.labuanibfc.com](http://www.labuanibfc.com/).

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