Qatar Development Bank (QDB) has announced a strategic investment in Wahed, a global Islamic FinTech dedicated to providing Shariah-compliant investment solutions.
Wahed, founded in 2015, has rapidly grown into a leader in Shariah-compliant investing, with a platform that offers affordable and accessible financial services. The company currently manages over $1bn in assets and serves a global customer base of over 400,000 individuals.
Built on the principle of democratising access to sophisticated financial services, Wahed offers an app-based platform providing managed portfolios, as well as venture and real estate investment opportunities, all designed to comply with Islamic financial principles. By removing traditional barriers, the company ensures that investment opportunities previously reserved for high-net-worth individuals are accessible to all.
Khalid Al Jassim, executive chairman of Wahed MENA, said: “Ali Rahimtula, partner at Cue Ball Capital, added: “We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.”
Wahed’s innovative approach to financial inclusion, combined with the strategic backing of QDB, further solidifies its mission to redefine Islamic finance on a global scale.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
