Wahed Invest Launches UK Regulated Sharia-Compliant Investment Platform

Wahed InvestWahed Invest, a New York-based Halal-focused investment firm, has launched the UK’s first Halal online investment platform regulated by the Financial Conduct Authority in order to bring British Muslims to the investment community.

Founded in 2015, the Sharia-compliant platform is aimed at smaller investors looking for a globally diversified portfolio of ethically responsible stocks, Islamic bonds, and gold.

Wahed states that the majority of surveyed British Muslims feel excluded from mainstream financial services because of their religious beliefs. The new service fills that gap by providing access to products not traditionally available to retail investors, such as Sukuk, an Islamic financial certificate, similar to a bond in Western finance, that complies with Sharia law.

The service charges a single annual fee, inclusive of all management fees, custodian fees, and transaction fees. Wahed offers what UK Muslims look for in a Halal provider, such as ease of withdrawing money (57%) and low cost including minimum deposit (49%). Users have the flexibility to place deposit or withdrawal requests at any time, with no required lock-in period. Already available in the USA across all 50 states, the platform allows clients to open an account in minutes with a minimum investment of £100.

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.”

To ensure all investments are in accordance with Islamic principles, the broker has Ethical Review Board that work together with Wahed’s investment management partners to overview a rigorous screening process and tailor portfolios to provide attractive investment returns. Criteria such as excess debt, tobacco, alcohol, firearms, gambling, adult entertainment, impure foodstock and usurious institutions, are screened by Wahed Invest and the team of scholars.