In a recent poll of our readers, 70% responded that they do not have any halal investments. In another poll, 61% shared that they do not invest at all. Hadith Of The Day spoke to Wahed Invest, a Halal-focused investment firm about the concept of Halal investing.
HOTD spoke to Wahed Invest, a Halal-focused investment firm about the concept of Halal investing.
HOTD: What is Halal-investing?
WI: Halal investing or ‘Shariah-compliant’ investing is investing based on Islamic law and principles (also known as the “Shariah”). The main goal is to encourage people to invest ethically and in a manner that comports with their beliefs. Financial products that derive their profits from interest, promote alochol, smoking, pornography, firearms and so forth are deemed impermissible, by the Shariah..
HOTD: What are the options in the market?
WI: Examples of investments that are halal are Sukuk, real estate or stocksof select companies. However, as a client, it is sometimes very hard to know if an investment is Shariah-compliant or not. This is why Wahed Invest was built. With our platform, clients can invest at ease and be confident that their portfolio is fully Shariah-compliant. We have a full time Shariah review board and Islamic finance professionals that monitor our portfolio holdings.
HOTD: This sounds complicated..
WI: It is not complicated at all, we’ll actually do all the heavy lifting for you! We have simplified the process so that you can sign up for a Wahed Invest account in three steps! To open a Wahed Invest account, you will need to take a free assessment consisting of 8 questions (this will determine your risk profile), sign up, fund your account with as little as $100 and your portfolio is created! With Wahed Invest, you will have 24/7 access to your portfolio and funds. Our Support Team is also extremely helpful and can guide you along the way.
HOTD: How does Wahed ensure that all their investments are Shariah compliant?
WI: In order to ensure all returns are halal, Wahed has a full-time Shariah Review Board, which undertakes a rigorous screening process and oversees annual purification reports. No investment is added to the portfolio prior to Shariah-compliance clearance from our board. As a result, Muslim and non-muslim investors alike can now be completely confident that their portfolios are ethically sound.
Thank you to Wahed Invest in helping our readers understand what Halal investing is and how Wahed ensure that customers’ funds are invested in a Halal way. Look for more insights from Wahed Invest on Hadith of the Day and visit their website here www.wahedinvest.com.
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Wahed Invest Disclaimer:
This article is part of a paid promotional package for Wahed Tech DMCC an affiliate of Wahed Invest LLC and Wahed Securities Ltd. through which investment advisory services are rendered. Wahed Invest LLC is registered as an investment adviser with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Custodial and brokerage services are provided by Apex Clearing Corporation, member of New York Stock Exchange, FINRA and SIPC. Any returns generated in the past are no indication of future returns. All securities involve some risk and may result in loss. This is not an offer, solicitation, or advice to buy or sell securities in jurisdictions where Wahed Invest is not registered. Wahed Securities Ltd. is a Financial Services Commission Mauritius registered and regulated Investment Dealer (Broker). Terms, conditions, and disclaimers apply to this service. For full terms and conditions please visit www.wahedinvest.com.