Malaa Technologies ready to launch its Shari’ah compliant investment platform

Malaa Technologies ready to launch its Shari’ah compliant investment platform

Malaa Technology (Malaa) a Saudi based fintech, today announces having received Shariah certification for its platform that provides financial planning and wealth management services to its customers. Shariyah Review Bureau (SRB) has been engaged on an ongoing basis and have reviewed its legal documents, investment strategy and will be supervising its investment activities in light of Sharia.

Having secured its Permit from CMA, Malaa provides its users a seamless experience to invest in Sharia compliant ETFs. Faisal Alqarni the Chief Strategy Officer at Malaa said: "We are happy today to announce the launch of our asset management division in the form of a very simple and automated Robo-advisory solution, empowering our users who rely on Malaa for their expense management and budgeting features to invest their savings in a seamless and integrated way. Malaa leverages Open Banking to allow users to track their expenses by connecting their bank accounts directly in the app, and now they can also open investment accounts and receive recommendations on the best asset allocation for them provided by our algorithms. Our goal is simple, we aim to build the best wealth management tool for individuals by automating everything related to investing and savings through technology."

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