FBNQuest Trustees, a subsidiary of FBN Holdings, which provides Trust solutions to individuals, corporate and government institutions, partnered with the Metropolitan Law firm to host the sixth Islamic Estate Planning Clinic which took place in Abuja recently. The event was designed to enlighten individuals on the importance of Estate Planning in accordance with Islamic law.
The recent event hosted an interactive panel discussion by experts on philanthropy and Islamic estate planning. The experts examined key issues related to Sadaqah, Zakat, and Waqf and how to maximise their impact while upholding Islamic principles. The speakers also talked about the significance of charitable giving as a means of fulfilling religious obligations and achieving social justice within Islamic teachings. They emphasised the importance of aligning philanthropic objectives with individual goals and community needs to create a lasting legacy of impact.
The session focused on the rapid technological advancement, the role of blockchain in technology, smart contracts, and the evolving landscape of estate planning. It emphasised the need to understand technology and identify best practices for leveraging online platforms to connect, facilitate personalized estate plans, enhance trust, security, and fairness in multi-generational wealth transfer, particularly in the context of Shariah-compliant practices. Managing digital assets, providing remote legal services, boosting online education, and raising awareness were highlighted as key factors in preserving wealth across borders. The comprehensive presentation delved into these digital frontiers and strategies for leveraging digital tools and platforms to navigate the complexities of inheritance laws while upholding Islamic principles.
The panel discussion featured industry experts including Prof. Dogarawa Ahmad of Ahmadu Bello University, Zaria; Team Lead Northern Hub, FBNQuest Asset Management, Aisha Wanka; Relationship Manager, FBNQuest Trustees, Mutiat Olatunji; Senior Lecturer at Ahmadu Bello University, Zaria, Dr Umar Bebeji; Head of Private Trust at FBNQuest Trustees, Rotimi Obende; and Head of Financial and Shari’ah Advisory, One17 Capital Limited, Ismail Rufai. The event was themed ‘Securing and Preserving Your Legacy’.
Managing Director/CEO, FBNQuest Trustees, Adekunle Awojobi, represented by Head of Marketing and Business Development, Babajide Fetuga emphasised the significance of Islamic estate planning in ensuring the security of your legacy. He stated that the preservation of your legacy is crucial in understanding the actual value, as your legacy is not just material possessions but also reflects the impact we have made on the people around us and the values that we uphold. Therefore, we must safeguard it with a deeper sense of purpose and commitment.
He further said: “It is important to include wealth transfer in your Islamic estate planning to preserve your wealth and assets. Wealth transfer is a versatile and effective solution for securing the prosperity of your future heirs and leaving a lasting financial legacy for generations to come. It is crucial to seek professional advice when establishing a plan for wealth transfer to ensure that it is carefully considered and expertly guided. He also highlighted the importance of seeking professional advice to leverage this powerful tool for preserving your wealth and protecting your assets”.
FBNQuest Trustees it said remains committed to pioneering conversations such as this and providing quality information and platforms to guide Nigerians in accruing assets without compromising their faith or values.
