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Halal investing forbids investing in debt, making many traditional investment vehicles off-limits to Muslims seeking to follow Sharia guidance. As a result, many in the Muslim community have limited their investments to cash savings and real estate, leaving them poorly diversified. Junaid Wahedna decided to fix that.
Wahedna, who graduated from Columbia University and spent years working in finance in New York City, was in a good position to launch Wahed Invest, making Halal investing easy.
“I've been very, very fortunate to have a good education, the resources and wherewithal to be able to do something and so I felt quite personally responsible to give back,” Wahenda says. “What right do I have not to actually go in there and fix this problem?”
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