The concept of investment is no longer something foreign to the public. With the convenience of technology now, an individual can start investing in just a few minutes. No more having to queue at the counter, scan identity cards and so on. This is because you can invest using just your smartphone, wherever you are at any time. But we need to know, especially the Muslims, that not all types of investments are halal and in accordance with Islamic sharia. This has created a gap in the market and that is why the Wahed Invest app was developed to fill this gap.
What is Wahed Invest?
Wahed Invest is a user -friendly app where you can start your investment with just a few scrolls on your smartphone screen. For your information, this app has won several awards such as Best Islamic Robo-Advisory Platform from the World Islamic Fintech Awards in 2020 and Online Business of the Year from the Islamic Channel Business Awards in 2019. In fact according to Wahed Invest, more than 200,000 religious investors Muslims around the world use this application and for those of you who have not tried it, perhaps the factors below can convince you to make an investment through Wahed Invest.
1. The investment is Halal because it complies with Islamic Shariah
Wahed Invest is committed to handling all investments so that they are 100% halal and in accordance with the prescribed Islamic Shariah. The investments made will be monitored by Wahed's Shariah board which consists of 3 advisors. Dr Aznan Hasan is one of the Shariah advisors from Malaysia and is the President of the Association of Shariah Advisers in Islamic Finance (ASAS). Mufti Faraz Adam Hanif and Shaikh Muhammad Ahmad Sultan are also no less impressive as they have long experience in the banking and finance industry.
In addition, investments made by Wahed Invest are also spared from illegal activities and in accordance with established Islamic principles. In fact, part of the income from investment will also be given as zakat. Wahed Invest will screen and ensure that the investment funds received are from halal sources and do not accept any usury, debt and follow the standards set by the Accounting and Auditing body of the Organization for Islamic Financial Institutions (AAOIFI). All contracts, investment processes and transactions will be ensured to comply with Islamic investment ethics.
2. Investment Up To The Global Market
Depending on the investment profile you choose, your investments can be put into Exchange Traded Funds (ETFs) that have the potential to gain global exposure. So you can also invest stocks into large organizations in the United States like Apple, Tesla, Adobe, Pfizer, and stocks from the Chinese market where China is among the major players for the technology, semiconductor, healthcare and consumer industries. The fees for investing in ETFs are also low with payout rates below 1%.
3. Potential To Receive A Return Of Over 10% A Year
As mentioned earlier, you can choose your own profile, or you will be recommended to a portfolio according to personal goals and risks you are willing to accept. You only need RM100 as an initial deposit in your Wahed Invest account, and can choose to continue depositing on a weekly or monthly basis if you want to grow your portfolio consistently and automatically. So you don't have to do anything after the deposit is entered. You can go to the portfolio page on Wahed Invest’s official website to see how Wahed’s portfolio types are divided according to global stock allocation, stocks for emerging markets, Sukuk (Islamic financial certificates), gold and cash, as well as the percentage return on investment you have the opportunity to Thank you.
For example, if you invest RM10,000 in April 2011 into a portfolio that invests in US stocks, your investment will grow to RM33,859 in April 2021.* Like all types of investments, you need to remember that the money you once invested is not necessarily guarantee its return in the future. That is why for every investment, you are advised to only invest money according to the suitability, ability and risk that you are willing to face.
*Based on the historical performance of the FTSE USA Shariah index and not any portfolio from Wahed. For illustrative purposes only.
4. Receive Recognition by the Securities Commission Malaysia
Wahed Invest has been recognized for use in more than 9 countries and in Malaysia itself they have received a license to operate legally from the Securities Commission Malaysia. You also do not have to worry about your investment as it is covered by the Capital Market Compensation Fund Corporation (CMCF) for an amount of up to RM100,000 in the event of untoward things happening to the Wahed Invest organization that make them unable to repay to investors.
The Wahed Invest investment application has also been supported by the Dubai government and Saudi Aramco, an oil and gas company in Saudi Arabia. In terms of management in Malaysia, Wahed Invest is led by Syakir Hashim, the co -founder of SkolaFund (now known as Kitafund). As for the international market, Samim Abedi who has experience working in the field of investment and finance at JP Morgan and Google is the Chief Investment Officer (CIO) and many other individuals of caliber work behind the Wahed Invest organization. So, you don’t have to worry for your investment status as it is run by experienced and great individuals in finance and investment.
5. RM40 Bonus For Our Readers
Specially for our readers, Wahed Invest will give you an attractive incentive when you open a Wahed Invest account for the first time. If you successfully open an account, you need to enter a minimum deposit of RM100 into the account and you only need to enter the reference code "MOHISM487" to receive a reward of additional RM40 that will be credited to your account later.
If you use the FPX system to deposit to a Wahed Invest account, you are advised to deposit RM101. This is to ensure that you have a deposit of RM100 in your investment account to be eligible to receive the additional RM40. This is because, you will be charged from the FPX service for each transaction performed. So what are you waiting for, invest with Wahed Invest now without worrying about its halal status.
To claim your free Wahed bonus of RM 40.reward make sure you use this referral code when you sign up: MOHISM487
Download the app https://app.wahedinvest.com/referral