Wahed Invest strengthens Sharia compliance management with Shariyah Review Bureau

Wahed Invest, a global provider of Halal investments, today announced the assignment of Shariyah Review Bureau to manage its Sharia compliance affairs from client agreements to investment universe, including Islamic ETFs and virtual advisory terms.  The announcement was made after a series of strategic positioning that Wahed has made to tap Islamic investors globally.

Wahed is seeking to expand geographically from its historical focus on clients in the US and now has offices strategically located in USA, UK, India, Dubai, Kazakhstan and Malaysia.  “We expect the majority of growth to come from the Middle East and Asia - which, in 2019, cumulatively accounted for a significant value of our total growth,” said Owais Gore, Head of Global Operations at Wahed. "We have also made good headway in diversifying services with the addition of Islamic ETFs and fixed income investments (sukuk). With new offices set-up in key financial hubs around the world we are focused on exporting a demonstrated track record that reduces management fees, brokerage requirements, and transactional costs," he added.   

Speaking on the assignment of Shariyah Review Bureau (SRB) Aris Pervaz (Head of Wahed North America & UK) said: “Wahed’s assignment underlines our commitment to delivering the very best outcomes in Sharia compliance for our customers around the world. Through their supervisory reviews and Sharia audits they will further strengthen our Sharia controls, which blends top Sharia compliant indices to facilitate market efficiencies and pricing opportunities.” He added, “SRB’s dedicated team of in-house scholars and Sharia auditors are well positioned to monitor, review and engage our business affairs in UK, US, GCC, Malaysia and beyond.”