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Wahed Inc, an Islamic Fintech backed by Saudi Aramco, to Acquire UK-based Digital Banking Startup


Wahed Inc, an Islamic Fintech backed by Saudi Aramco, to Acquire UK-based Digital Banking Startup
US-based
Saudi Aramco, is reportedly planning to acquire
Niyah Ltd, a UK company that operates a digital banking platform for the Muslim community.
Wahed’s management noted that they’re hoping the acquisition will allow them to offer a wider range of products and services. Wahed intends to become a one-stop-shop for Islamic or Shariah law-compliant digital financial services.
The financial terms of the transaction have not been shared publicly.
Founded in 2017, Wahed operates a digital investment management platform in the US. The platform ensures that its asset portfolio doesn’t include investments in businesses that are not permitted in Islam (firearms, gambling, alcohol, and several other activities). ....

Saudi Arabia , United Kingdom , Junaid Wahedna , Niyah Ltd , Saudi Aramco , Wahed Inc , Islamic Finance Fintech , Saudi Aramco Entrepreneurship Ventures , சவுதி அரேபியா , ஒன்றுபட்டது கிஂக்டம் , சவுதி அரம்கோ , வாட் இன்க் , இஸ்லாமிய நிதி ஃபிண்டெக் , சவுதி அரம்கோ தொழில் முனைவோர் முயற்சிகள் ,

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Saudi Arabia , United Kingdom , Omar Faridi , Niyah Ltd , Saudi Aramco , Wahed Inc , Islamic Finance Fintech , சவுதி அரேபியா , ஒன்றுபட்டது கிஂக்டம் , ஓமர் பரிதி , சவுதி அரம்கோ , வாட் இன்க் , இஸ்லாமிய நிதி ஃபிண்டெக் ,

Islamic fintech Wahed Invest enters challenger bank race with Niyah acquisition


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Islamic fintech Wahed Invest enters challenger bank race with Niyah acquisition
17 December 2020
Source: Wahed Invest
Wahed Inc. (‘Wahed’), a US-based Islamic-finance fintech company, today announced it will acquire Niyah Ltd, (‘Niyah’) a UK-based fintech that is creating a banking app and ethical financial platform catered to the Muslim community.
The move signals a leap forward in Wahed’s product expansion plans and its ambition to become the leading, ‘one-stop-shop’ for Shariah-compliant financial products and services. ....

Saudi Arabia , United States , United Kingdom , Ali Abdulkadir , Junaid Wahedna , Niyah Ltd , Saudi Aramco , Wahed Inc , United Kingdom Based , North America , Saudi Aramco Entrepreneurship Ventures , Wa Ed Ventures , Islamic Finance , சவுதி அரேபியா , ஒன்றுபட்டது மாநிலங்களில் , ஒன்றுபட்டது கிஂக்டம் , சவுதி அரம்கோ , வாட் இன்க் , ஒன்றுபட்டது கிஂக்டம் அடிப்படையிலானது , வடக்கு அமெரிக்கா , சவுதி அரம்கோ தொழில் முனைவோர் முயற்சிகள் , வா எட் முயற்சிகள் , இஸ்லாமிய நிதி ,