Halal & value-based investing

After initially launching with our white-label robo-advisor in 2017, Wahed recently launched a new app built using our flexible investment API.

The company, which offers its investment services across 130 countries, has set its sights on becoming a one-stop shop for socially responsible investing here in the UK.

A smartphone showing the Wahed app

How we helped

WealthKernel and Wahed started working together in 2017, with Wahed utilising our white-label service to roll out the world’s first automated halal robo-advisor. Our white-label service provides a customisable solution for companies that don't have the in-house tech teams to use our API services.

Following exciting growth, the company recently launched a new app for its socially conscious customers, and migrated directly to our API services. By doing so, Wahed was able to improve user experience and seamlessly integrate investment products alongside other financial services.

Behind the scenes, WealthKernel provides KYC, trading, portfolio management & rebalancing, custody, and ISA tax wrappers for Wahed’s users in the UK.

Why it matters

According to a study by BNY Mellon (LINK), there is a growing awareness among global investors of the synergy between ESG (environmental, social and governance) investing and Islamic finance.

This has contributed to a greater appetite for Shariah-compliant investments as investors look for more portfolio diversification and an alternative to other traditional ESG investments.

Halal investing can be complex due to the exclusion of companies that profit from interest, lending, gambling, insurance and other prohibited activities.

To ensure returns are Halal, Wahed has a full-time Ethical Review Board, and securities undergo a rigorous screening process in which its investment management partners and ethical scholars work together to tailor portfolios.

Wahed has also successfully received associate membership with the Accounting and Auditing Organization for Islamic Financial Institutions (“AAOIFI”), a not-for-profit organisation that regulates and standardises accounting, auditing and governance practices for the Islamic finance industry in line with international standards that comply with Islamic rules.

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A short snippet of code depicting an instruction to buy an asset over API