Wahed launches M'sia’s first Islamic robo-advisor
Chee Jo-Ey | 01 Nov 2019 00:30
A common difficulty most investors face especially in the early stages of investing is getting access to investment services. The thought of having to go through the hassle of going to a bank, speaking to fund managers and opening accounts is enough to shun some from investing altogether.
Then came robo-advisors that offer algorithm-driven investment services on digital platforms with minimal human intervention. Robo-advisors usually gauge your current financial situation and future goals through an online survey to help you make decisions and invest your assets. They are not only easily accessible but are also very cost-effective, with some requiring opening balances as low as RM100.
Wahed Inc recently launched Malaysia’s first Islamic digital investment platform, which is available in over 130 countries. It aims to make Islamic investment management and portfolios that were traditionally reserved for only high net worth investors accessible to all by offering low initial investments of RM100 and no lock-in period.
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