Post COVID-19: Impact on the competency of Islamic legacy planners in Malaysia

Abstract

This paper aims to identify the competency components of Islamic legacy planners in the event of post COVID-19 pandemic crisis in Malaysia. A qualitative approach using a multiple-case study through semi-structured interview was used. Data was gathered from a representative of full-fledged Islamic trust companies in Malaysia on what constitute as required competency components for Islamic legacy planners. In total, 4 interviews have been performed involving the decision-makers as well as c-level executives of the participating companies. It is found that there are non-standardised guidelines on recruitment of Islamic legacy planners. The majority of the respondents within the group have also chosen fiqh mawarith as the main knowledge to be acquired besides knowledge in product and solution, law and regulations. The results of this study have practical contributions to the regulatory bodies, academicians and professionals. The competency framework is recommended to the industry players in pooling competent talents in the Islamic legacy planning industry. In spite of its limitation to confine only to the full-fledged Islamic trust companies, it sheds light on competency issues within the Islamic organisations. The study would contribute to the practitioners as a guideline in recruiting their Islamic legacy planners and also for succession planning purposes. A competency model for Islamic legacy planners was proposed focusing on several components that can be used as guidance in determining the criteria needed for a competent Islamic legacy planner, which is a new dimension for Islamic legacy planning literature. The sub-objective of determining the elements of competency, as well as understanding the current practice of recruiting the Islamic legacy planners became the input in the moulding of the competency framework.