KUALA LUMPUR, Oct 29 ― Wahed Invest, the world first digital shariah-compliant investment management services provider, has spread its wings into the Asia Pacific (Apac) region, making Malaysia its regional hub.
Wahed Inc Head of Apac, Syakir Hashim, said the US-based shariah-compliant investment company has chosen Malaysia as their base due to its strength in Islamic finance as well as a clear framework on digital investment.
“Islamic finance is one of the fastest growing sectors in the world, and Wahed has enabled the global Muslim community to participate in global financial markets by making investing both accessible and ethically compliant,” he told reporters after the launch of its investment platform today.
He added that Malaysia is also one of the most developed Islamic capital markets and is uniquely positioned to meet the increasingly sophisticated needs of Southeast Asian investors and help create opportunities in the Islamic finance sector.
“By providing a new and smarter way of investment that is shariah-compliant, our investors will have access to a digital investment manager that has lower fees and account minimums,” he said.
Investments on Wahed’s platform start at RM100 with no lock-in period.
Wahed’s current investment portfolio options include US and Malaysian stocks, sukuk and gold.
Syakir said Wahed’s platform is also the first Islamic digital investment management service to obtain a regulatory licence from the Securities Commission. It is available in over 130 countries.
It also has a board to determine the investment is 100 per cent shariah-compliant, combined with other shariah-compliant regulatory bodies such as Securities Stock Exchange, Financial Conduct Authority, Saudi Arabia Capital Market Authority as well as Central Bank of Bahrain in regards to its investment choices.
“On our platform, we will also issue a zakat statement at year-end from the income obtained by those that invest,” he said. ― Bernama