2023-01-24 09:15:03

Aramco-backed fintech opens bank branch in London to help Muslims invest

Logo CNBC
CNBC
By Ryan Browne

Key Points

  • Wahed, a fintech startup backed by oil giant Saudi Aramco and French soccer player Paul Pogba, debuted its own retail presence in the U.K. Tuesday.
  • The branch resembles an Apple store and is positioned just opposite an HSBC bank branch on Baker Street.
  • It aims to provide the U.K.'s 3.9 million Muslims with advice on investments that comply with Sharia law.

Islamic fintech startup Wahed has opened its first physical branch on Baker Street in London. The glossy retail location is designed to look like an Apple store.

Wahed

An investing platform backed by the likes of oil giant Saudi Aramco and French soccer player Paul Pogba is launching a novel proposition in the U.K.: a physical branch and bank accounts backed by gold.

New York-based Wahed, which describes itself as a "halal investing platform," has opened a branch in the U.K. in a bid to target the country's 3.9 million Muslims with a sharia-compliant investment management and advice service.

The glossy retail location has a similar design to an Apple store, with digital displays inside and a bright sign displaying its logo outside. It is located on Baker Street in central London, just opposite a branch of U.K. banking giant HSBC.

Continue read on cnbc.com

Logo Benzinga
Business / FinanceBy Business Wire2023-01-23 22:18:00
Expands Portfolio of Transportation and Storage Infrastructure Assets Arroyo Investors, a Houston-based, independent investment manager focused on power and...

Logo PR Newswire
WALHALLA, S.C., Jan. 23, 2023 /PRNewswire/ -- Community First Bancorporation, Inc. (OTCQX: CFOK), parent company for Community First Bank, Inc. (the "Bank"),...

Logo NewsFileCorp
Press Release2023-01-23 16:00:00
Kharkiv, Ukraine--(Newsfile Corp. - January 23, 2023) - Fintable, a revolutionary fintech firm founded in Kharkiv, Ukraine, whose office was bombed during...

Logo EIN Presswire
EntertainmentPress Release2023-01-24 00:56:30
Lekan Olalusi, The Kingmaker of the Entertainment Industry, Launches Weihls Studios to Nurture & Develop Emerging Talent

Logo Inquirer.net
Business / FinanceBy Miguel R Camus2023-01-23 18:06:00
Tycoon Alfredo Yaos Philippine Business Bank (PBB) is raising P500 million through a stock rights offer next month as it vies for a universal bank license...

Logo PR Newswire
SAN FRANCISCO, Jan. 23, 2023 /PRNewswire/ -- Fintech companies, banks and non-banking financial players have exhibited traction for digital lending to...

Logo PR Newswire
NEW YORK, Jan. 23, 2023 /PRNewswire/ -- Investcorp, a leading global alternative investment firm, today announced the appointment of Suhail Shaikh as Co-Head...

Logo PR Newswire
TULSA, Okla., Jan. 23, 2023 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) will participate in investor meetings at the U.S. Capital Advisors Midstream Corporate...

Logo PR Newswire
AUSTIN, TX, Jan. 23, 2023 /PRNewswire/ - Aypa Power ("Aypa"), a Blackstone portfolio company that develops, owns, and operates utility-scale energy storage...

Logo South China Morning Post
Business / FinanceBy Enoch Yiu2023-01-24 06:00:16
Chinas reopening has given new optimism and impetus to deal-making, says a Baker McKenzie senior executive New rules on virtual assets and listings by...

Logo South China Morning Post
Business / FinanceBy Chad Bray2023-01-23 12:00:13
Japans Takeda Pharmaceutical will exclusively develop and manufacture fruquintinib outside mainland China, Hong Kong and Macau HutchMed will receive US$400...

Logo EIN Presswire
LONDON, UNITED KINGDOM, January 23, 2023 / EINPresswire.com / -- JPC capital is a rapidly growing private equity firm based in Dubai with offices based in...

Logo The Business Journals
Business / Finance2023-01-23 22:14:01
At JPMorgan Chase, Kerri Schroeder will serve as managing director and Pacific Northwest region manger for its middle market business.

Logo GlobeNewswire
LONDON, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Milltrust Ventures, the venture investment arm of Milltrust International, an award-winning investment organisation...

Logo Nasdaq
TechnologyBy Zacks2023-01-23 14:12:00
For Immediate Release Chicago, IL January 23, 2023 Today, Zacks Investment Ideas feature highlights Albertson's ACI, Kroger KR, Casey's General Stores CASY...

Logo NewsFileCorp
Press Release2023-01-23 11:00:00
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2023) - Mundoro Capital Inc. (TSXV: MUN) ( www.mundoro.com ) (" Mundoro " or the " Company "),...

Logo PR Newswire
ATLANTA, Jan. 23, 2023 /PRNewswire/ -- First Option Mortgage is proud to announce the opening of three new branches across the country. In the last quarter...

Logo PR Newswire
TechnologyPress Release2023-01-23 17:00:00
Innovative FinTech company, pro-business advocate and payments acquirer announces trial date for February 2023 LAS VEGAS, Jan. 23, 2023 /PRNewswire-PRWeb/ --...

Logo PR Newswire
TechnologyPress Release2023-01-23 14:00:00
MONTR√ČAL, Jan. 23, 2023 /PRNewswire/ - Garda World Security Corporation (the "Company" or "GardaWorld") announced today the commencement of a private...