There have been some great developments at Wahed Invest and in the wider ethical finance space over the past few weeks.
Here’s a round up of some of our recent highlights and coverage in the media:
The exciting launch of Wahed’s new investment mobile app for the UK was covered in Finextra, being flagged as “a great example of one of the many companies offering more personalisation and, ultimately, better financial outcomes.”
The Sunday Times also celebrated the app and looked at where the idea of Wahed as business was first conceived. The eureka moment happened in the back of a New York cab, after Junaid- then a successful banker on Wall Street, found out the driver was getting financial advice from his imam instead of a regulated adviser. From that moment Junaid felt an urgency to find a way to promote greater financial inclusion among an underserved population and to deliver banking services that aligned with people’s ethical values. From there, Wahed was born.
Since the company was launched in 2017, Wahed has grown rapidly, but more needs to be done to democratise access to services for the conscious consumer. In an exclusive interview with City AM, Junaid spoke about some of the challenges and opportunities facing the sector in the UK, discussing everything from Brexit to regulatory requirements. He also revealed more about his personal background, vision and mission for the company.
As the company continues to grow, so does its influence and appeal among financial services firms and investors around the globe. Wahed’s partnership with Value Partners Asset Management Malaysia Sdn. Bhd. (Value Partners Malaysia), which was announced in the publication Utusan Malaysia, is a good example of this reach. According to Edge Markets, which also covered the news, the partnership will provide a unique opportunity for Malaysian investors to participate in the growth of the second-largest economy in the world in a halal way
Racha Sibai, our new VP of Strategy and Global Partnerships, was profiled as an Inspirational Woman in Tech by WeAreTechWomen. She shared her impressive journey to the top and her views on diversity in finance, focusing on how we need to address the financial literacy gap that exists in society and get everyone, including women, to take care of their finances in a healthy and non-judgmental environment.
Meanwhile, Nairametrics, an influential publication in Nigeria, spotlights Wahed in a feature that asks whether buying stocks is halal or not. The article cites Wahed FTSE USA Shariah ETF (HLAL) as one of the good options, with Year to Date returns of13.10%, with an expense ratio of 0.50%.”
We’re thrilled to be sharing our story with the international media and hope that more people in more countries will learn about us and join our mission to bridge the wealth gap. Enjoy the rest of the summer- and stay focused on living in an ethical and socially impactful way.