Shari'ah Compliant Trusts In The Offshore Domain.
Mondaq Business Briefing › Nbr. 2007, January 2007
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Extract
Shari'ah Compliant Trusts In The Offshore Domain.
Originally published in Moneyworks, May 2007.
In the offshore domain, trusts have their origin in the common law of England and have, for many years, been used by wealthy families in the Middle East to create long-term structures to address tax and succession planning. Trusts can be crafted so as to comply with the specific family requirements of Islamic law. Indeed, the concept of Waqf is the nearest equivalent to a trust in Islamic law and its components can with careful drafting be reflected in the terms of an English common law trust. Often trustees are chosen from one of t...See the full content of this document
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