WASIYYAH SHOPPE GOING GLOBAL
Syariah-compliant trustee company touts new ‘family office’ business model
WASIYYAH Shoppe Bhd, a syariah-compliant trustee company, aims to expand its footprint internationally from as early as July.
Wasiyyah Shoppe chief executive officer Ariffin Sabirin said it planned to introduce its services in Indonesia, Brunei, China, Australia, the United Kingdom and the Middle East.
“The expansion into the international market is aligned to our growth plans for this year.
“But because we are doing it online, it doesn’t matter whether we have physical office or not. This will be carried out by a subsidiary that we will set up in June,” he told the New Straits Times.
With the higher awareness of Islamic inheritances, he said the opportunity to grow outweighed potential risks.
“We understand that even among the Muslim communities globally, the Islamic inheritance concept is quite alien.
“In countries in the Middle East, they do have Islamic inheritance laws but what we are introducing is the ‘family office’ model.
“We are optimistic that this new business model will be widely accepted by the Muslim communities globally.”
Ariffin said Wasiyyah Shoppe was also planning for a listing on Bursa Malaysia’s Main Market by 2025.
He said the company also aimed to more than double the number of agents to 5,000 by 2024.
Wasiyyah Shoppe currently has close to 2,000 active consultants nationwide promoting its services via online platforms.
“More than 68,000 Muslims in Malaysia have benefited from Wasiyyah Shoppe’s Islamic estate planning innovative solutions.
“Our track record of settling more than RM700 million worth of estate values for our deceased clients and assets worth more than RM35 billion entrusted by the clients, speaks of our credibility as a trusted trustee.”
Ariffin said the company had also invested more than RM2 million conducting research, seminars and workshops.