Wahed Invest readies UK app as it eyes geographic expansion, long-term goal of Islamic digital bank
LONDON - Wahed Invest, a U.S.-based online Islamic investment platform, is preparing its mobile application for the United Kingdom following a legal status change with the regulator.
In late January, Wahed obtained permissions from the UK regulator, the Financial Conduct Authority (FCA) to act as a Discretionary Fund Manager. This means the company is no longer required to be an appointed representative of WealthKernel that currently provides execution services for Wahed Invest’s clients.
The regulatory status allows Wahed to launch its proprietary app. The UK app will be ready later this year on both iOS and Android, Aris Parviz, Head of North American Operations, told Salaam Gateway.
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