Savings are hard to make, but even harder is the decision to invest them and make fruity returns. Especially, for Muslims who love to abide by the Shari’ah rules, i.e. what is right and what is wrong, what is permissible and what is not, in more technical terms – Halal.
However, finding Halal investing opportunities, screening stocks and other such complexities of businesses is not an easy task and is perhaps a barrier that makes Muslims sometimes shy away from investing.
Wahed Invest LLC (“Wahed Invest”), aims to provide a solution to this challenge. It is a digital halal investment platform that caters to investors from different professional and economic backgrounds. Wahed enables investors to start with an account as low as $100 and at the same time, helps them enjoy lower management fees compared to the traditional financial advisors.
Wahed Invest also aims to educate the wider Muslim community on ‘Halal Wealth’ and ‘Halal Investing’ for which it has launched an educational series in collaboration with Sheikh Yasir Qadhi, who Masha Allah is very knowledgeable in that area.
In the first episode, Sheikh Yasir helps explain the concept of ‘wealth’ in Islam. In the later episodes of the educational series, he will then move onto the more detailed areas of Halal investment and make the concept of wealth understandable for Muslims who may be interested to invest at some point in their lives.
In this episode, he explains that ‘Wealth’ or ‘Al-maal’ is considered one of the blessings from Allah, and that it all belongs to Allah. Wealth is not only the cash that we own, its also the material possessions that may include the items engaged in businesses; like livestock, land/property and or cash which is the extension of gold or silver and in larger terms, the ‘business merchandise’ which is a Shari’ah term that comes under the umbrella of wealth.
Watch the first episode below: