Wahed

Wahed: A Sharia-compliant investment platform Wahed is an American financial technology and services company that offers a digital platform for Sharia-compliant investments. Founded in 2017 by Junaid Wahedna, it’s based in New York City and has a global presence, operating in 130 countries with offices in Washington D.C, New York, London and Dubai. The company was valued at $300 million in 2022, according to Bloomberg. Wahed’s core mission is to provide Riba-free financial alternatives that allow individuals to achieve financial freedom without compromising their values, according to Wahed Invest. They aim to democratize Sharia-compliant investment options, making them accessible to a wider community regardless of financial background or investment experience. Sharia compliance In July 2019, Wahed launched the first Sharia-compliant exchange-traded fund (ETF) in the United States. Wahed emphasizes rigorous screenings to ensure that their investments adhere to Islamic principles. This means avoiding industries like tobacco, alcohol, firearms, gambling, adult entertainment, and those with excessive debt or impure food stocks. Wahed Invest platform and services Wahed offers a range of Sharia-compliant investment products, including managed portfolios, venture investments, and real estate investments. They use a digital platform, sometimes also called Wahed or Wahed Invest, which employs financial algorithms based on Modern Portfolio Theory to create optimal and tailored portfolios for investors. They have a minimum investment requirement, which is $500. Wahed charges a Wrap Advisory Fee, typically ranging from 0.49% to 0.79% annually, which includes management, custodian, and transaction fees. They do not charge additional fees for trading or withdrawals. However, this fee does not cover charges for wiring, IRA, wire withdrawals, or other fees from the custodian, nor does it include expense ratios from ETF sponsors or mutual funds.