Saudi Aramco-supported ‘halal’ saving platform launches bran...| MENAFN.COM

Saturday, 04 February 2023 10:36 GMT

Saudi Aramco-supported ‘halal’ saving platform launches branch in UK


(MENAFN) Wahed, a funding platform supported by Saudi Aramco and French footballer Paul Pogba, has launched a physical branch and bank accounts supported by gold in London, as reported by CNBC.

The New York-located company labels itself as a “halal investing platform.”

The firm’s Shariah-compliant investment organization and advice facility targets to aim at the United Kingdom’s 3.9 million Muslims.

Wahed bans investments in businesses that income from lending, gambling, alcohol, as well as tobacco.

An account with Wahed does not recompense interest on investments but instead follows the amount of users’ deposits versus the worth of gold. The price of the precious metal comes mixed based on supply and demand.

Wahed chief executive Junaid Wahedna informed CNBC that the firm proposes consumers, to the two Muslim and non-Muslim, the opportunity to battle currency fluctuations and increasing living prices.

“[Muslims are] an underserved community as a whole,” as asserted by Wahed.

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