DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ -- Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg [https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg]
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: 'We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: "Qatar Development Bank's strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance."
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com [https://c212.net/c/link/?t=0&l=en&o=4310884-1&h=943876094&u=http%3A%2F%2Fwww.wahed.com%2F&a=www.wahed.com]
About Qatar Development Bank
Qatar Development Bank's mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation's economic diversification. As well as a focus on the development of Qatar's private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/ [https://c212.net/c/link/?t=0&l=en&o=4310884-1&h=629350722&u=https%3A%2F%2Fwww.qdb.qa%2F&a=https%3A%2F%2Fwww.qdb.qa%2F]
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Photo: https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg WahedCONTACT: Thamid Hannan, 447469819647, thamid.hannan@wahed.com
