In a groundbreaking move, Wahed Invest Limited, the UAE subsidiary of fintech powerhouse Wahed Inc., has recently unveiled its status as the UAE’s inaugural Islamic digital investment management platform. This cutting-edge platform, designed to provide Shariah-compliant investment services to residents, marks a significant stride in making investment management accessible to a diverse range of investors.
What sets Wahed Invest Limited apart is its commitment to transparency and inclusivity. The platform boasts low minimum investments, transparent fees, and a notable absence of a lock-in period, ensuring that both experienced and inexperienced investors can explore diversified portfolios tailored to their preferences.
Receiving the Financial Services Permission (FSP) from the esteemed Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) further solidifies Wahed Invest Limited’s position as a key player in the region’s evolving fintech landscape.
Empowering Investors with a Shariah-Compliant Approach
One of Wahed Invest Limited’s core objectives is to empower Muslims to actively manage their investment portfolios with confidence. By offering a transparent and selectively curated Shariah-compliant portfolio, the platform aims to contribute to the financial wellbeing of its users while adhering to the cultural values of the UAE.
CEO Junaid Wahedna expressed his excitement about the platform’s launch in the UAE, emphasising its commitment to fostering a savings culture among the youth and professionals in a secure and Shariah-compliant manner. Having grown up in the UAE, Wahedna sees this endeavour as a way of giving back to the community and contributing to the flourishing business environment in Abu Dhabi, ADGM, and beyond.
ADGM’s Endorsement and Progressive Regulatory Ecosystem
Arvind Ramamurthy, Chief of Markets at ADGM, welcomed Wahed to ADGM’s international financial centre, lauding the company for obtaining the FSP from ADGM’s FSRA. He highlighted ADGM’s commitment to providing a progressive regulatory ecosystem that supports the growth of fintech innovators, fostering a trusted, collaborative, and enabling marketplace for Abu Dhabi, the UAE, and the wider region.
Wahed Invest Limited’s arrival in the UAE is seen as a significant contribution to the growing digital economy, bringing next-gen financial services to the forefront.
Global Recognition and Funding Milestones
Since its establishment in 2015, Wahed Inc. has rapidly gained global recognition, attracting over 300,000 customers worldwide. The fintech firm has also secured substantial funding, exceeding $75 million from family offices, institutions, and high-profile backers, including Dubai Cultiv8 and international footballer Paul Pogba. Wahed’s overarching mission is to redefine the Muslim community’s participation in global financial markets, making investing accessible and ethically acceptable for the 1.8 billion Muslims worldwide.
