Photo for illustrative purposes only. Buildings in London's financial district on March 6, 2020. Shutterstock

Islamic Finance

Islamic fintech Wahed hires ex-HSBC exec to head UK operations

Islamic fintech Wahed Inc has hired ex-HSBC exec Umer Suleman as its UK operations general manager to expand the company’s services in the country.

Suleman will address the underbanked needs of the UK’s Muslim community while also serving the increasing number of retail investors seeking ethical alternatives to wealth creation, Wahed said in a statement on Thursday (June 24).

Wahed’s new UK general manager spent seven years at HSBC where he started as European Risk Manager before becoming Global Risk Manager, then Senior Regulatory and Operational Risks Programme Manager, and finally Chief Control Officer, according to his LinkedIn profile.

Suleman’s appointment comes within six months of Wahed acquiring UK-based fintech Niyah, signalling a step forward in its plans to become the leading “one-stop shop” for Islamic products and services, it said in December.

Wahed said on Thursday it plans to enter other European countries from its position in the UK.

The Islamic fintech headquartered in New York and licensed in nine jurisdictions has over 200,000 active users, it said.



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