Qatar Development Bank (QDB) has announced a strategic investment in Wahed, a global financial technology company that specializes in Shariah-compliant investing. The move underscores QDB’s commitment to fostering innovation and advancing Islamic finance.
Wahed, founded in 2015, has grown into a major player in the Shariah-compliant fintech sector, managing over $1 billion in assets and serving more than 400,000 clients worldwide.
The platform aims to democratize financial services by offering affordable and accessible investment solutions that align with Islamic principles, removing barriers traditionally faced by smaller investors.
Its mobile app provides clients with access to Shariah-compliant portfolios and investment products, including managed portfolios, real estate, and venture capital opportunities.
Khalid Al Jassim, Executive Chairman of Wahed MENA, welcomed the partnership with QDB, emphasizing its alignment with Wahed’s mission to establish a technology-driven Islamic finance ecosystem.
“We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy,” Al Jassim said.
Ali Rahimtula, Partner at Cue Ball Capital, highlighted the significance of QDB’s investment.
“Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance,” Rahimtula said.
QDB’s investment also aligns with its mission to contribute to Qatar’s economic diversification and innovation, supporting the nation’s private sector and enhancing socio-economic development.
The bank’s focus on nurturing a knowledge-based economy is a cornerstone of the Qatar National Vision 2030.
Wahed’s success reflects the growing global interest in ethical and values-driven finance, with Islamic fintech emerging as a key segment.
The strategic partnership between QDB and Wahed is expected to further advance Qatar’s role as a hub for innovation in Islamic finance.
