Shari´a Law And Jersey Trusts

A Jersey trust may not only form an important part of a Muslim client's lifetime tax planning strategy, but may also offer an opportunity to create a flexible long term structure which is capable of dealing with the possible unwanted succession issues which are inherent under Islamic Law.

Contrary to popular belief, the concept of a trust should not be alien to the Muslim client as there are several similarities with the Islamic waqf. A waqf is an irrevocable gift of land or property made for religious, educational or charitable purposes. Such a gift is made to God (Allah) but is distributed in accordance with the wishes of the donor by a waqf administrator, whose office and duties bear many similarities to those of a trustee.