Azmi & Associates’ Senior Partner, Dato’ Azmi Mohd Ali, attended the Penang Bar’s Conference on Hibah and Waqaf (“Gift and Endowment“) on 24 November 2024 in Penang. This significant event brought together legal professionals, scholars, and industry experts to discuss and deliberate on various aspects of Islamic endowments and their contemporary applications.

Dato’ Azmi was honoured to speak on the topic of The Comparison of Family Waqaf and Family Office. During the conference, he dwelt into the nature of Family Waqf jurisprudence under Islamic Law and the Family Office in the context of modern-day common-law system. He also analysed how Family Office has taken a leap in our neighbouring market, Singapore whilst in Malaysia the Family Office is still catching up.

In his suggestion, it is imperative that all the stakeholders must work harder to bring about legislative and policy changes to make Family Office to be more developed in Malaysia as a way of attracting funds from regional wealthy families to locate their family offices in Malaysia.

His insightful presentation conveyed the necessity of robust legal and policy frameworks to foster the growth of Family Offices in Malaysia. By doing so, Malaysia could position itself as a prime destination for wealth management and endowment services.

Azmi & Associates remains committed to contributing to the development of the legal profession and the broader financial ecosystem through active participation in such significant conferences and thought leadership. We look forward to continuing our efforts in promoting best practices and innovative solutions in the realm of Islamic finance and wealth management.

Corporate Communications
Azmi & Associates
4 December 2024