Jersey Finance has released a study into attitudes towards Islamic finance wealth management by Muslim high-net-worth individuals.
The white paper – Global Attitudes to Islamic Wealth Management – was launched at Jersey Finance's conference in Dubai last week. It examines the views of more than 2,000 respondents across the UK (London), Asia (Kuala Lumpur), the GCC and Africa (South Africa).
Key points
• 96% of Muslim HNWIs are actively planning or preparing for wealth succession, with more than half (57%) planning to seek tax advice, and nearly two-thirds (63%) seeking Shariah compliance advice.
• The Islamic finance investor base is becoming ever more sophisticated, demanding greater professionalism from financial services providers, while continuing to adhere to Shariah principles.
• Islamic HNWIs are taking an active interest in ESG and ethics in making financial decisions, yet more than half rely on their own knowledge to do so, presenting an opportunity for private wealth managers to offer more advice and a codified approach to ethical finance.
To view the white paper click here