Incorporating Faraid algorithm & Shariah advisory – Wasiat writing completes within 30 minutes!
KUALA LUMPUR, 14 June 2023 – Maybank Islamic Berhad today launched an innovative and efficient Wasiat writing service for the Muslim community in Malaysia, called EzyWasiat. The new digital service allows customers to easily plan and prepare their Wasiat in an efficient manner and within Shariah and Faraid (Islamic inheritance) principles.
The EzyWasiat platform is based on a unique assisted model where customers will be directly assisted by Maybank Islamic’s wealth management advisors or relationship managers who will utilize the build-in Faraid algorithm to simplify the wasiat writing process. Customers must have their proper documents ready, and from as low as RM600, their wasiat writing can be completed within just 30 minutes.
EzyWasiat provides peace of mind when it comes to estate planning and ensures the estate is administered accordingly upon one’s demise. It is targeted but not limited to Muslims who have long harboured intentions to prepare a Wasiat but have been held back due to the perceived complexities, the cost involved and lack of convenience.
Estate and legacy planning is important to an individual and his/her beneficiaries. It has been widely reported in the media that Muslim properties or assets worth more than RM70 billion are pending distribution. This is due to the lack of awareness among the public on the importance of planning for the distribution of their assets prior to their demise.
To create this convenience for customers, Maybank Islamic collaborated with fintech platform provider, CreateWills Sdn Bhd, combined with the advisory support of Maybank Islamic’s dedicated customer relationship personnel.
Dato’ Mohamed Rafique Merican, Group CEO, Islamic Banking, Maybank
Ahmad Shareza Abdul Rahman, Head of Islamic Wealth Management, Maybank Islamic
Maybank Islamic CEO, Dato’ Mohamed Rafique Merican said the introduction of EzyWasiat is in line with the Bank’s aspiration to develop new and innovative propositions that addresses the needs of the wider community.
“We remain steadfast to spearhead Islamic banking in this region and beyond. With the right partners, we are well-placed to do so and pave the way for the next phase of growth in Islamic finance. Beyond delivering on our promise of sustainability through Islamic finance, we are also putting efforts to digitize our product offerings and delivering solutions to our customers, hence the partnership with like-minded partners such as CreateWills.”
“The partnership between Maybank Islamic and CreateWills marks a significant advancement Wasiat writing services for the Muslim community, particularly within the Islamic Estate Planning space. It also builds on Maybank Islamic’s commitment to make its services accessible to all members of the Muslim community,” added Dato’ Rafique.
“With EzyWasiat, Muslims benefit from a Wasiat-writing service that caters specifically to those who hold their faith dear and are thinking ahead for their loved ones. Simply put, we help you realise your intention to move from Niat to Wasiat,” said Maybank Islamic Berhad Islamic Wealth Management and Business Development Head, Ahmad Shareza Abdul Rahman.
He added that the Bank’s mission is to empower customers to plan for the future efficiently, while ensuring their intention to abide by Islamic beliefs is easily fulfilled.
“The whole process of getting it done within just 30 minutes and the affordable pricing structures ensures that no one is excluded from receiving high-quality legal assistance in estate planning. Taking into account the dynamism of life and that circumstances may change over time, EzyWasiat being digitally-led makes it easy to be amended as well,” Ahmad Shareza pointed out.
EzyWasiat is one of the new offering under Maybank Islamic’s Islamic Wealth Management Shariah-backed holistic solutions which covers all 5 pillars of wealth management – wealth creation, accumulation, protection, purification and distribution.
Just recently, under the wealth purification pillar, it launched an online service called EzQurban to facilitate Aidiladha’s annual ritual practice among its customers while at the same time, promoting financial planning for their future Qurban obligations.
