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The term ‘Halal’ has been mostly associated with the concept of dietary laws, but it is still a universal term that can be applied to all facets of life, and not just when it comes to food.
However, with people’s increased appetite for investing, trading, and other financial operations, the concept of Halal must also be applied to include many aspects of people’s lifestyle, like their finances and investments.
It’s important to note that Halal investing requires the investor to view investment products in a Halal light, and to find out whether said investments are in line with Islamic finance principles. The primary goal for Muslims evaluating Halal investments is to ensure that all income sources taking part in the operation are Halal, and this represents one of the most critical aspects of Shariah law.
Wealthface’s response to Muslim investors’ request by launching Mahfaza
The main concern when investing is that Muslims seek Halal activities that align with their Islamic values and beliefs; however, this option isn’t always available and accessible for everyone. Consequently, Wealthface stepped up to address the issue and even took the lead to make the markets accessible for everyone.
Wealthface’s launch of Mahfaza, a Halal investment portfolio, allowed investors to invest in what they believe, without any conflict between their investment goals and their religion. Thus, the Mahfaza portfolio offered is deemed Halal because of the opportunity it offers to investors seeking to build wealth according to Islamic law.
We’re talking about a Halal, sophisticated, low-cost investment portfolio that can be accessed smartly within minutes. The best part about the Mahfaza portfolio is the fact that it is optimised not only for performance, but also for Halal investments.
As a result, Muslim investors now have the opportunity to invest in multiple types of accounts related to their financial objectives like retirement, education, and building wealth with other multiple selections of portfolios, all based on their preferred risk level, without compromising their values.
In general, Halal investing with Wealthface is done away from companies that profit from gambling, weapons, tobacco, or other restricted industries. That also includes bonds or companies generating significant revenues from interest, which are also excluded from the list.
In this regard, Bilal Majbour, CEO, Wealthface, said: “We want this holy month of Ramadan to be different and more flavourful; our Wealthface team has been planning to offer this new innovative product for our Muslim clients who adhere to their beliefs, so that they can engage in halal investment and trading. This innovation represents a significant chapter in achieving the Wealthface vision that makes us stand out through the products we offer, which are making investment and trading an option available to everyone without any exception.”
Stock Trading, Halal or Not?
Is day trading Halal? This question must have been uttered a million times by Muslims intending to start out their investment journeys. Fortunately, trading can be Halal with Wealthface. After all, we have not just offered Halal trading, but also made the process very seamless and clear.
Thus, retail clients will now be able to invest money across the stock market using exchange traded funds (ETFs) that have been rigorously screened to conform with Islamic law, all while being as diversified as possible to maximize performance.
Through Mahfaza, Muslims looking for Halal trading can buy and sell Halal stocks and shariah compliant ETFs directly in the market by choosing their own Halal Factor based strategies. Furthermore, Wealthface accounts are instantly funded without any wire transfer fees.
The launching of Mahfaza is further proof that Wealthface is dedicated to making the market accessible for everyone with no exception. Providing all these Halal features is somehow a precedent in the world of investments and part of the progressive path that Wealthface is following.
For more information, visit www.wealthface.com
Address: Office # 2434, 24th Floor, Al Sila Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, UAE PO Box: 128666
Tel: +971 2 694 8501 /+971 50 964 1641
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