Published by Gbaf News
Posted on August 21, 2018
Wahed Invest has launched the UK’s first Halal online investment platform that is authorised by the Financial Conduct Authority, allowing savers from all income brackets to easily invest in a globally diversified portfolio of ethically responsible stocks, Islamic bonds and gold.
With a recent survey showing that over half of British Muslims feel excluded from mainstream financial services providers, this new service will make ethical investing accessible to all, regardless of their financial knowledge or income[i].
The platform, which is already available in the USA across all 50 states, allows users to open an account in minutes with a minimum investment of £100. For the first time, mainstream investors can gain access to products not traditionally available to retail investors, such as Sukuk. With no lock-in period, users also have the flexibility to place deposit or withdrawal requests at any time.
Mohammed Ibrahim Morshed, Head of UK at Wahed Invest, said: “Our mission is to make Halal investing an accessible and affordable means of long-term saving for the millions of UK Muslims who currently feel excluded from mainstream financial services. For too long, the needs of the community have been overlooked, with many Muslims finding it impossible to build nest eggs that are in line with their faith.
“By providing access to a low-cost, accessible investment platform that is advised by our full-time Ethical Review Board, Muslim and non-Muslim investors alike can now be completely confident that they are creating portfolios that are ethically sound.”
Wahed charges a single annual fee, inclusive of all management fees, custodian fees, and transaction fees, and there are no hidden or rebalancing fees. These are factors which Wahed’s survey highlights as especially popular when choosing to invest with a new Halal provider, with ease of withdrawing money (57%) and low cost including minimum deposit (49%), considered the most popular among UK Muslims. Users are able to monitor performance daily through the digital platform.
In order to ensure all returns are Halal and in accordance with Islamic principles, Wahed has a full-time Ethical Review Board. All securities undergo a rigorous screening process in which Wahed’s investment management partners and ethical scholars work together to tailor portfolios to provide attractive investment returns. This means the following are screened: excess debt, tobacco, alcohol, firearms, gambling, adult entertainment, impure foodstock and usurious institutions.
The Ethical Board is chaired by Sheikh Taha Abdul Basser alongside Sheikh Humza Maqbool Chaudhry and Sheikh Musa Furber. Wahed Invest is authorised by the Financial Conduct Authority.
[i]Wahed Invest survey’ July 2018.
Wahed Invest has launched the UK’s first Halal online investment platform that is authorised by the Financial Conduct Authority, allowing savers from all income brackets to easily invest in a globally diversified portfolio of ethically responsible stocks, Islamic bonds and gold.
With a recent survey showing that over half of British Muslims feel excluded from mainstream financial services providers, this new service will make ethical investing accessible to all, regardless of their financial knowledge or income[i].
The platform, which is already available in the USA across all 50 states, allows users to open an account in minutes with a minimum investment of £100. For the first time, mainstream investors can gain access to products not traditionally available to retail investors, such as Sukuk. With no lock-in period, users also have the flexibility to place deposit or withdrawal requests at any time.
Mohammed Ibrahim Morshed, Head of UK at Wahed Invest, said: “Our mission is to make Halal investing an accessible and affordable means of long-term saving for the millions of UK Muslims who currently feel excluded from mainstream financial services. For too long, the needs of the community have been overlooked, with many Muslims finding it impossible to build nest eggs that are in line with their faith.
“By providing access to a low-cost, accessible investment platform that is advised by our full-time Ethical Review Board, Muslim and non-Muslim investors alike can now be completely confident that they are creating portfolios that are ethically sound.”
Wahed charges a single annual fee, inclusive of all management fees, custodian fees, and transaction fees, and there are no hidden or rebalancing fees. These are factors which Wahed’s survey highlights as especially popular when choosing to invest with a new Halal provider, with ease of withdrawing money (57%) and low cost including minimum deposit (49%), considered the most popular among UK Muslims. Users are able to monitor performance daily through the digital platform.
In order to ensure all returns are Halal and in accordance with Islamic principles, Wahed has a full-time Ethical Review Board. All securities undergo a rigorous screening process in which Wahed’s investment management partners and ethical scholars work together to tailor portfolios to provide attractive investment returns. This means the following are screened: excess debt, tobacco, alcohol, firearms, gambling, adult entertainment, impure foodstock and usurious institutions.
The Ethical Board is chaired by Sheikh Taha Abdul Basser alongside Sheikh Humza Maqbool Chaudhry and Sheikh Musa Furber. Wahed Invest is authorised by the Financial Conduct Authority.
[i]Wahed Invest survey’ July 2018.
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