UAE-based investment manager Wealthface has entered the Halal marketspace with its new premium digital account offering clients access to over 2,000 Halal stocks and exchange-traded funds.
The new service by Wealthface targets millennials and professional traders in the MENA region and the US.
Founded in June 2018, the robo-advisor positions itself as a one-stop-shop online investment platform offering both passive indexing investment and factor investing services. It is licensed by the US Securities and Exchange Commission and Financial Services Regulatory Authority in Abu Dhabi Global Market.
Apart from a Halal strategy, the upgraded premium traded account also features zero commission trading, artificial intelligence analysis for global stocks and fractional shares solutions.
As at the end of March 2022, there are three robo-advisors offering Shariah compliant investment services in the UAE including Wealthface, according to the IFN Islamic Fintech Landscape.