Islamic fintech introduces new Physical Gold Portfolio in the UK

Group Head of Risk and General Manager of Wahed UK, Umer Suleman, at the Royal Mint 

Wahed Invest Ltd. (“Wahed UK”), the UK based subsidiary of global Islamic fintech Wahed Inc. (“Wahed”), announced on Friday the launch of its new Physical Gold Portfolio. It will act as the seventh risk portfolio on the Wahed app exclusively in the UK, giving users the unique opportunity to invest solely in physical gold, which will be stored and guarded at the Royal Mint.

The Royal Mint Physical Gold ETC is backed by the London Bullion Market Association and part of the gold custody will be 100% recycled gold bars, which is less carbon intensive than mined gold, keeping in line Group Head of Risk and General Manager of Wahed UK, Umer Suleman, at the Royal Mint with Wahed’s mission to make ethical and halal investment options accessible.

“In times of market volatility and currency erosion, people will always look for investments that represent stability and real assets, such as gold. In good times or bad, gold is an asset class that is understood by the majority of people as being tangible, and therefore, to ensure that we provide the communities we serve with products that reflect what they want as well as need from a diversification perspective, Wahed has launched the Physical Gold Portfolio here in the UK,” commented Umer Suleman, Group Head of Risk and General Manager of Wahed UK.

Earlier this month, Wahed announced that Wa’ed Ventures, the venture capital arm of the Saudi Aramco Entrepreneurship Center, is leading their $50 million Series B funding round, with HSBC acting as lead financial advisor. Other investors in the round include footballer Paul Pogba, who has also joined Wahed as their latest brand ambassador and strategic family offices and institutions.