Wahed Invest

Exclusive: First Islamic #robo-adviser to launch in Mena

The first Sharia-compliant robo advisers plans to start operations in the UAE soon, as it looks to a US$2 million funding boost this week from the Dubai venture capital firm Beco Capital. The digitally automated investment adviser Wahed Invest launched in the USA five months ago. CEO Junaid Wahedna said the company was in the process of moving to a new office in Dubai which will become the company’s new global headquarters. Wahed Invest expects to start regional operations by mid-Nov­ember, focusing initially on the UAE. According to Wahedna, the target for ethical, Sharia robo-advisory is the younger demographic, 25-35 years old, digitally savvy and educated millennials. The minimum investment of $100 enables it to tap into a broader customer base.

Wahed Invest CEO Discusses the Impact of Robo-Advisors in Islamic Finance at Harvard University's Islamic Finance #Conference

The 2016 HUMA Islamic Finance Conference was held at Harvard University on October 14 and 15 on the role of Islamic finance in sustainable development goals. CEO of Wahed Invest, Mr. Junaid Wahedna spoke about the future of the industry and the impact of Robo-advising on Islamic financing and sustainable development goals. He said that Wahed Invest brings the latest technology into the world of ethical financing and the feedback from attendees was extremely encouraging. The two-day event included sessions to discuss the functions of Islamic finance, while also critically probing the institutional constraints and the product limitations that may challenge the Islamic finance industry in making a meaningful impact.

Wahed Invest Inc. Launches the World's First Islamic Robo-Advisor

Wahed Invest announces the launch of Wahed, the first automated Islamic investment platform, to provide access to halal portfolio management for 2 billion Muslims around the world. The Wahed platform analyzes thousands of securities worldwide to create portfolio allocations with the highest growth potential for its clients. According to CEO Junaid Wahedna, the platform democratizes access to the best financial advice for investors. Wahed offers portfolio management for investments as little as $7,500, as opposed to the usual $500,000 minimum required by most wealth management firms. Wahed Invest is currently accessible in the United States and will be available in more than 100 countries by 2017.

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