Islamic robo-advisor Wahed Technologies has rolled out a savings program aimed at attracting young users with incentivized goal-based investing.
The Savings Booster Programme, launched in collaboration with partners such as ACCESS Health International and Tripfez, enables Malaysians to save and invest through diversified Halal portfolios while reaping incentives from a curated list of partners.
“The young adults, millennials of today aspire to have a better quality of life and health. To help them achieve these life goals whilst navigating the increasing cost of living would mean that they often need a better option to save and manage their finances,” explained Mohd Izzat Fadhli Azman, Wahed’s country executive director.
The program notably features health-focused partners and benefits, made possible by Wahed’s partnership with non-profit think tank ACCESS Health International.
“At ACCESS Health, we believe that everyone, despite age, race, gender, or socioeconomic standing, has the right to high-quality, affordable healthcare. We believe saving for the future – as well as future healthcare costs – should start young. We, along with our partners at MetLife Foundation, are excited to kick off this project with Wahed, knowing we will be playing a vital role in bringing about change in the healthcare fintech space in Malaysia,” said Sejal Mistry, ACCESS Health’s regional director for Southeast Asia.
Other perks include discounts on early Umrah bookings offered by online travel agency Tripfez Travel, and orthodontic and dental service discounts.
Wahed Technologies is a subsidiary of New York-headquartered Wahed Invest. It received a digital investment license from the Securities Commission of Malaysia in 2019.