Maybank Islamic has partnered with digital will-writing platform CreateWills to launch a will (wasiat) writing service called EzyWasiat. Targeted at the Muslim community in Malaysia, the new service will enable customers to plan and prepare their wasiat – within shariah and faraid (Islamic inheritance) principles – with ease and efficiency.

According to Maybank, EzyWasiat is the first digital will-writing platform in Malaysia that comes complemented by personalised advisory services and assistance from Maybank’s certified personal financial advisors, wealth management advisors, or relationship managers. Additionally, it features a built-in automated faraid algorithm that can help to simplify the whole process. Briefly, faraid is a concept in Islamic law that determines the rights and portion of a deceased’s inheritance to his or her heirs.

As a result, customers can complete their wasiat writing process within just 30 minutes, with fees starting from as low as RM600. If you need to amend your wasiat in the future, that can also be done conveniently at a small cost.

Chief executive officer of Maybank Islamic, Dato’ Mohamed Rafique Merican said that the introduction of EzyWasiat is in line with the bank’s commitment to develop innovative products that address the needs of the Malaysian public. “The partnership between Maybank Islamic and CreateWills marks a significant advancement in wasiat writing services for the Muslim community, particularly within the Islamic estate planning space. It also builds on Maybank Islamic’s commitment to make its services accessible to all members of the Muslim community,” he added.

Head of Islamic wealth management and business development at Maybank Islamic, Ahmad Shareza Abdul Rahman echoed similar sentiments, adding that the tagline for EzyWasiat is aptly set as ‘From Niat to Wasiat. He especially hopes that the platform can assist Muslims who have always wanted to prepare a wasiat, but did not do so due to obstacles such as the perceived complexities of the will-writing process, the cost, and lack of convenience.

“The whole process of getting it done within just 30 minutes and the affordable pricing structures ensures that no one is excluded from receiving high-quality legal assistance in estate planning. Taking into account the dynamism of life and that circumstances may change over time, EzyWasiat being digitally-led makes it easy to be amended as well,” said Ahmad Shareza.

For those who would like to tap into Maybank’s new EzyWasiat service, you can kickstart the process by sending an email to wealthdistribution@maybank.com with your full name and phone number. Following that, a personal financial advisor or relationship manager from Maybank will get in touch with you and guide you along the process.

Alternatively, you can also schedule a branch appointment to speak to a bank personnel regarding the service. Note that the EzyWasiat service is currently unavailable via the Maybank2u online banking website or the MAE by Maybank2u mobile banking app (the integration of the service into both platforms is still under consideration).

Maybank also shared that it has plans to expand EzyWasiat beyond the market in Malaysia to other regions where the bank has a foothold. However, no specific timeline has been determined as of yet.

(Source: Maybank)

• TAGS:
• Ahmad Shareza Abdul Rahman
• CreateWills
• Datuk Mohamed Rafique Merican
• Faraid
• Maybank Islamic
• Maybank Islamic EzyWasiat
• Shariah
• Will Writing