Wahed Invest has unveiled an automated Islamic investment platform to offer halal portfolio management for Muslims worldwide.
Dubbed Wahed, the new platform will leverage real-time software that is fully automated and uses customised financial optimisation algorithms.
Wahed Invest co-founder Nilish Chadha said: "We believe that this is the future of the wealth management and ethical finance industry. We have developed our technology to combine Wall Street-level portfolio management with socially responsible track records and investment principles, to create a new niche in the industry of ethical finance.
“We empower our investors by not only automating the entire investing process, but also giving them the tools to monitor and plan their customized portfolios using our state-of-the-art client portal."
The platform is deemed as the world's first automated ethical investment platform, and can be accessed by the world's lower socio-economic demographic, Wahed Invest said.
Wahed Invest CEO Junaid Wahedna said: "Sophisticated investment management services were previously available only to wealthy investors through financial advisors. We believe that the first step to ethical investing begins with access for anyone that wants to invest ethically.
“By implementing a completely digital-based solution, which is informed and supervised by world-class financial expertise, Wahed democratizes access to the best financial advice for investors the world over. We are able to offer the most advanced portfolio management for investments as little as $7,500, as opposed to the usual $500,000 minimum required by most wealth management firms."
Currently available to only investors in the US, the platform is eventually expected to be launched to over 100 countries across the globe by as early as 2017.