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According to the business, the new facility would give U.K. consumers access to one location for managing their finances.
Wahed, a fintech company that serves Muslims, has opened a physical presence in central London and introduced a new gold-backed debit card in a move that defies the UK pattern of closing bank branches.
According to the company’s founder and CEO Junaid Wahedna, Wahed is launching the 140-square-meter location at 89 Baker Street in London to assist clients develop trust in the brand. Wahed has received £75 million in capital from family offices and angel investors, including player Paul Pogba.
“Wahed’s new gold-backed debit card allows the Muslim community to utilize technology to access and invest their money in a responsible and secure way, storing it safely and ethically without risk of exposure to Riba. Combined with the new branch, our community-focused finance service provides Muslims with banking and investment opportunities that align with their faith,” he added.
