Wahed Invest

#Innovation in Islamic finance

Islamic finance is one of the fastest growing areas of international finance. The mid 1990s saw Islamic finance offer a limited number of services, but today it is a fully integrated financial system which spans continents. Modernisation of the practice has also been driven by technological advances. New services such as online and mobile banking and payment services are essential. Financial institutions are also responding to the emergence of digital currencies and the blockchain which underpins them. The Islamic finance market is embracing both fintech and robo-advisors to analyse thousands of global securities and pinpoint those with the highest growth potential. An example of a robo-advisory firm in the Islamic finance market is Wahed Invest. Aside from FinTech, other Islamic microfinance models have had a larger impact over the last couple of years. Platforms such as Micro-Takaful and social finance have gained traction. FinTech is ideally suited to achieving Shariah compliance and will continue to prosper along with Islamic finance.

Wahed Invest: a Sharia-compliant #investment #robo-adviser

Robo-advisers are opening up investment advice to the masses. They can provide sound investment advice for a fraction of the cost of their human counterparts, making it affordable enough for those with as little as US$100 to invest. Junaid Wahedna has taken the robo-investment concept a step further, making it available for those looking for Sharia-compliant investment options. Wahed Invest charges far lower fees than those charged by a conventional wealth manager. The robo-advisor Betterment has accrued over $10 billion worth of assets under management in the US since its launch in 2008. Currently, all of Wahed’s clients are from the US and Mr Wahedna says it plans to start accepting international customers. The company has 50 full-time employees and it has offices in New York, London, Dubai and Mumbai. The company sees a lot of potential in India, having seen strong demand for Islamic investing in the country from its pre-registered clients.

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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