Wahed Invest Limited, the UAE affiliate of Wahed Inc., has launched the UAE’s first Islamic digital investment administration platform.
Residents can access Shariah-compliant investment services through the platform. It has low minimum investments, transparent costs, and no lock-in time. Wahed’s goal is to make management of investments available to a wide variety of investors.
It has also received Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). The platform caters to both experienced and beginner investors, offering diversified portfolios that are tailored to the user’s tastes.
Furthermore, Wahed also intends to encourage Muslims in general to take care of their financial well-being through the use of a readily available and selective Shariah-compliant portfolio.
UAE beliefs
“We consider the United Arab Emirates to be our home. I grew up in the UAE. Moreover, I am also delighted to bring our technology and investment efficiencies to the UAE’s thriving business environment in Abu Dhabi, ADGM, and beyond,” Junaid Wahedna, CEO of Wahed Inc., stated.
He further stated, “We are focused on fostering a culture of financial literacy among youngsters. Also contributing to the professionals in a safe and Shariah-compliant manner, in line with the cultural values of the UAE” .
Arvind Ramamurthy, chief of markets at ADGM, stated, “Wahed is a fantastic addition to ADGM’s worldwide financial center and thriving community. In addition, we are also pleased to congratulate them on being granted the FSP by ADGM’s FSRA.
Furthermore, he stated, “ADGM aspires to catalyze the growth of fintech innovators by establishing a trusted, collaborative regulatory ecosystem with an excellent progressive regulatory ecosystem. Also enabling marketplace for Abu Dhabi, the UAE and the wider region. Moreover, the launch of Wahed in the UAE brings next-gen financial services and strengthens our growing digital economy”.
Wahed has garnered over 300,000 subscribers globally since its introduction in 2015. Furthermore, the company has raised more than $75 million in funding from family offices. In additon, Wahed has also raised funding in institutions, and high-profile investors such as Dubai Cultiv8, and international star Paul Pogba.
The goal of Wahed is to alter how the Muslim community engages in global financial markets. By making investment accessible and ethical for the world’s 1.8 billion Muslims.
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