Velexa, Ajyad Capital launch shari’ah-compliant investing app in GCC

By Gloria Methri

Velexa, a WealthTech innovator, has formed a strategic partnership with Ajyad Capital, a Bahrain-based investment management firm, to transform the investing landscape in the GCC region.

Building on Velexa’s investing technology solutions and leveraging Ajyad Capital’s market presence and regional expertise in financial services, the two organisations aim to introduce innovative investing services for the Kingdom of Bahrain, UAE, the Kingdom of Saudi Arabia, Kuwait, Sultanate of Oman and Qatar.

Harnessing advanced WealthTech tools from Velexa, Ajyad Capital will launch a modern Shari’ah-compliant investing and trading application to meet the evolving needs of private and institutional investors.

The alliance will introduce a state-of-the-art digital brokerage platform, enabling investors to access global and local market venues while adhering to Shari’ah principles.

By leveraging AI-driven, customisable wealth management platforms tailored to the region’s market dynamics, the partnership aims to drive digital transformation across the financial sector.

Additionally, through Ajyad Capital’s extensive network and connectivity to stock exchanges, Velexa’s institutional customers – financial services providers globally, will gain access to GCC markets, creating opportunities for cross-border investments.

Tamara Kostova, CEO of Velexa. “This partnership is a game-changer for addressing the outflow of wealth from the GCC region. Today, a significant part of the region’s wealth is managed outside its borders. By combining Ajyad Capital’s regional expertise with Velexa’s technological innovation, we aim to create a transformative ecosystem that empowers investors and businesses to retain and grow their wealth locally. Together, we are unlocking the region’s true financial potential and fostering sustainable growth.”

“We are excited to collaborate with Velexa, whose technological capabilities align perfectly with our mission to drive financial excellence in the region,” said Suhail Hajee, CEO of Ajyad Capital. “This partnership reflects our commitment to staying ahead of market trends and offering our clients exceptional services.”