Wahed Technologies partners INCEIF on Shariah robo-advisory awareness

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KUALA LUMPUR, Nov 24 — Wahed Technologies Sdn Bhd (Wahed), a digital investment management company licensed by the Securities Commission Malaysia, is partnering with the International Centre for Education in Islamic Finance (INCEIF) in a research on the level of awareness on the Shariah robo-advisory (funds management applications) among Malaysians.

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In a statement today, it said the project would be carried out soon by INCEIF Masters students, with guidance from Wahed Technologies, under the university’s Action Based Learning (ABL) programme.

“Wahed Technologies joins a growing list of industry players, government agencies and non-profit organisations who have partnered with INCEIF through the ABL programme to undertake projects by solving current business issues or developing new solutions,” it said.

Meanwhile, Wahed Technologies said it intended to expand and roll out digital investment management services across the Southeast Asian region.

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It said such services empower Malaysians from all walks of life to take charge of their financial well-being by providing them access to a Shariah-compliant portfolio that is transparent and impartial.

“With low fees, no lock-in period and a nominal RM100 starting deposit, Wahed Technologies aims to provide access to investment opportunities that were predominantly reserved for investors with higher net worth,” it said.

Country executive director Mohd Izzat Fadhli Azman said Malaysia is being on an unprecedented track towards becoming pioneer in Islamic Digital Economy within the region and the company intended to play an active role in educating the general public on robo-advisory investments.

He said aside from identifying the awareness and sentiment of Malaysians investing via robo-advisors, the four-month long study would also collect data to understand the gaps or related issues, as well as suggesting solutions and best practices to attract potential investors.

“The data collected will be compiled and used as a preliminary analysis that will help in benchmarking the nation’s Shariah robo-advisors exposure rate against countries around the globe,” he added. – BERNAMA

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