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Wahed and iWaqf to launch digitised endowment feature in the UK

By Gloria Methri

July 26, 2023

  • Islamic Digital Investment
  • Islamic Endowment
  • Islamic FinTech
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Wahed, Islamic Banking, Islamic FinTech, Private Banking, Islamic Digital Investment, Waqf, iWaqf, Shariah-Compliant Investment, UKWahed, the Islamic digital investment platform, has entered a strategic partnership with iWaqf to launch a dedicated Waqf (Islamic endowment) feature in the UK. Wahed, through its digital platform, provides accessible and Shariah-compliant investment opportunities to a diverse range of investors.

Commonly referred to as an Islamic endowment, Waqf is an Islamic concept that fosters sustainability by growing community donations rather than immediately deploying them. The returns generated from these donations are distributed to create a more efficient and long-lasting model of charitable giving.

Blending this concept with forward-looking technology creates a groundbreaking donation vehicle that has the power to create lasting social impact.

Paul Pogba, a long-time Wahed ambassador noted, ”Waqf is something that will last even when you die, and you keep getting a reward, it is the best investment that you can do.”

The launch of the Waqf feature, enables individuals to donate to iWaqf with the objective of generating lasting social impact. The partnership will focus on giving in key sectors such as education, poverty alleviation, and sustainable development, aligning with the principles of Islamic finance and social responsibility.

Junaid Wahedna, CEO of Wahed, expressed his excitement about the partnership, stating, “We are proud to provide the UK Muslim community with a digital avenue to revive the Islamic culture of charity via Waqf, a sustainable and smarter way to donate.”

Haroon Rashid, Founder of iWaqf, added, “The event celebrates a pivotal moment in our collective journey to redefine donating through a Waqf. We look forward to engaging with attendees, sharing our vision, and highlighting the transformative potential of the strategic partnership.”

The partnership between Wahed and iWaqf, along with the launch of the Waqf Feature, signifies a momentous step towards integrating Islamic charitable principles. Wahed aims to inspire individuals to donate with purpose and make a meaningful impact on society.

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