Robo-advisor Sarwa has rolled out Sarwa X, an upgraded version of Sarwa Classic, with enhancements facilitating more efficient funding and investment processes as the UAE-based firm moves forward with its MENA growth strategy.
The new product is powered by a strategic partnership with Danish investment bank Saxo Bank which supports local transfers in the UAE dirham (AED) and the US dollar (US$). Sarwa X supports local transfers in AED and US$. UAE clients can have free local transfers from their AED bank account to their Sarwa X account without incurring international transfer fees, thus optimizing long-term returns.
“We are so excited about dramatically cutting costs for our clients. Fewer fees mean more returns, which have already been fantastic in comparison to industry benchmarks. We wanted to work with a partner that can deliver on backend cutting-edge technology so we can have more flexibility. This means better services and a lot of new products on the horizon,” said Mark Chahwan, the co-founder and CEO of Sarwa.
Sarwa offers both Islamic and conventional investment opportunities.
The upgrade is part of the firm’s expansion strategy which included adopting a new regulatory structure earlier this year.
“The new license upgrade will help Sarwa to scale significantly, not only in terms of increasing the client base and but also in terms of product offering,” the firm explained.
Sarwa, which was first licensed in the Dubai International Financial Centre, is now also incorporated in the Abu Dhabi Global Market and is working on expanding regionally.