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Wahed Invest Launches in Malaysia

Wahed supports Malaysia’s vision of shared prosperity and inclusive economic growth by leveraging technology that is focused on the Islamic Digital Economy

by moneycompass
October 31, 2019
in Local Market News
(From left to right): Mohd Izzat Fadhli, Country Executive Director (Malaysia) of Wahed Inc; Mohd Yuzaidi Mohd Yusoff, the Non-Executive Independent Director, Malaysia Digital Economy Corporation Sdn Bhd (MDeC) ; Junaid Wahedna, Founder and Chief Executive Officer of Wahed Inc; Linar Yakupov, Advisor of Wahed Inc; As’ad Layth, VP of Business Development, Wahed Inc; Kareem Tabaa, Chief Product Officer of Wahed Inc and Syakir Hashim, Director and Chief Executive Officer of APAC, Wahed Inc

(From left to right): Mohd Izzat Fadhli, Country Executive Director (Malaysia) of Wahed Inc; Mohd Yuzaidi Mohd Yusoff, the Non-Executive Independent Director, Malaysia Digital Economy Corporation Sdn Bhd (MDeC) ; Junaid Wahedna, Founder and Chief Executive Officer of Wahed Inc; Linar Yakupov, Advisor of Wahed Inc; As’ad Layth, VP of Business Development, Wahed Inc; Kareem Tabaa, Chief Product Officer of Wahed Inc and Syakir Hashim, Director and Chief Executive Officer of APAC, Wahed Inc

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KUALA LUMPUR, 29 October 2019 – Wahed Invest announced the launch of Malaysia’s first Islamic digital investment platform. Wahed’s digital investment management services allow investors access to a Shariah compliant portfolio, that is transparent, impartial and aims to empower Malaysians at large to take charge of their financial well-being.

First launched in 2017, US based Wahed Invest, expanded into the UK market in 2018 and plans to roll out its digital investment management services across the Southeast Asia region from its regional base here in Malaysia. Available in over 130 countries, Wahed is designed to cater to both financially savvy investors as well as those with little financial knowledge, making diversified investments accessible. Coupled with low starting investment of RM 100, low fees, and no lock-in period, Wahed hopes to remove the barriers to investment management and portfolios that were traditionally reserved for high net worth investors.

“Islamic finance is one of the fastest-growing sectors in the world, and Wahed has enabled the global Muslim community to participate in global financial markets by making investing both accessible and ethically compliant. As one of the most developed Islamic capital markets, Malaysia is uniquely positioned to meet the increasingly sophisticated and demanding needs of Southeast Asian investors and help create opportunities in Islamic finance.”

Junaid Wahedna, Founder and Chief Executive Officer of Wahed Inc.

Wahed’s current portfolio allocation options include investments into US stocks, Malaysian stocks, sukuk (Islamic bonds), and gold. In order to ensure all returns are halal, Wahed has a full-time Shariah Advisory Board, which undertakes a rigorous screening process and produces annual purification reports (Zakat). As a result, Muslim and non-Muslim investors alike are now able to invest worry-free into portfolios that are ethically sound.

Wahed Invest has successfully obtained their regulatory license from the Securities Commission (SC) Malaysia to offer the first islamic digital investment management services in Malaysia. The Islamic Digital Investment Management license granted by the SC will enable Malaysians to invest worry-free in shariah-compliant and ethical portfolios.

 

Tags: digital investmentfinancial knowledgeinvestmentIslamic financeMalaysiaSecurities Commission MalaysiaWahed Invest
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