Islamic fintech Wahed adds investment app to UK portfolio, readying digital bank and takaful

Islamic fintech Wahed adds investment app to UK portfolio, readying digital bank and takaful

LONDON - Wahed Inc is moving full-steam ahead in the UK following the hiring of ex-HSBC exec Umer Suleman in June as its country general manager.

The U.S.-headquartered Islamic fintech company on July 27 released its investment app that allows users to directly deposit funds into their accounts, and more products are in the pipeline, including a digital bank and takaful.

Wahed launched its first product in the UK in September when it teamed up with Options UK to offer a Shariah-compliant workplace pension product.

The Islamic fintech's expansion in the UK comes after the company received $25 million in a funding round in June last year.

New GM Suleman told Salaam Gateway Wahed is finalising its online banking platform Niyah, which it hopes to launch by the end of the year.

Wahed will first launch Niyah in the UK and then in the markets where it is already present, including Malaysia, USA and the