A trust can be set up for a wide range of purposes ranging from discretionary, charity, spendthrift protection, etc. Labuan IBFC offers trusts (governed by common law) that can be applied in an Islamic manner as long as they subscribe to Shariah principles. Trusts are highly flexible, covering many types to suit a client’s varied needs. Labuan trusts shall not be valid unless it is created by a will or other instrument in writing, including a unilateral declaration of trust, but a unit trust shall be created only by a will or other instrument in writing.