After almost a year since it established a representative office in the UK, New York-based Wahed Invest is now open for business and ready to service UK clients following the approval from the Financial Conduct Authority.
“We are extremely grateful to be able to help clients from all 50 states in the US invest in a Halal way. The trust that the community has placed in us is very exciting,” the Islamic robo advisor said. “In the same spirit, and in line with our commitment to make Halal investing accessible, we are excited to announce the opening of Wahed for UK residents.”
With a minimum investment of GBP100 (US$128.44), UK residents can invest in a customized portfolio of Halal assets online.
The digital wealth management firm has raised over US$7 million to fund its ambitious expansion plan. Apart from operating in its home market, and now the UK, Wahed Invest has also made headway in the Middle East. The firm is one of the earliest participants of Bahrain’s fintech regulatory sandbox and has also set up offices in Dubai and Mumbai. IFN Fintech understands that the firm has also begun exploring opportunities in Malaysia.