https://adgully.me/post/4604/wahed-launches-in-the-uae

Wahed launches in the UAE

Abu Dhabi: Wahed Invest Limited (Wahed), the UAE robo-advisory subsidiary of Wahed Inc., a global Shariah-compliant fintech that aims to advance financial inclusion through accessible, affordable and value-based investing, has launched after having been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). Wahed will become the UAE’s first dedicated Islamic digital investment management platform.Wahed offers financial services to UAE residents to facilitate a smarter way to invest through access to a diversified, Shariah-compliant portfolio in its digital Application. The firm aims to empower Muslims at large to take charge of their investment well-being with a transparent and selective Shariah-compliant portfolio.Wahed is designed to cater to financially savvy investors as well as those with little financial knowledge. Coupled with low starting investment minimums of USD 500, low fees, and no lock-in period, it hopes to remove the barriers to sophisticated investment management that have been traditionally reserved for high-net-worth investors.Junaid Wahedna, Chief Executive Officer at Wahed Inc. said, “We consider the UAE our home. I grew up in the UAE and am very excited to bring our technology and investment efficiencies to the UAE's flourishing business environment in Abu Dhabi, ADGM and beyond. We are committed to contributing to an increase in the savings culture amongst the youth and professionals in a safe and Shariah-compliant manner, in line with the cultural values of the UAE”.Arvind Ramamurthy, Chief of Markets at ADGM said, “We are pleased to welcome Wahed to ADGM’s international financial centre and vibrant community and congratulate them on being granted the FSP by ADGM’s FSRA. With a world-class progressive regulatory ecosystem, ADGM aims to catalyse the growth of Fintech innovators by fostering a trusted, collaborative and enabling marketplace for Abu Dhabi, the UAE and the wider region. The launch of Wahed in the UAE brings next-gen financial services and strengthens our growing digital economy”.Since its launch in 2015, Wahed has attracted over 300,000 customers worldwide and has raised more than USD 75 million in funding from family offices, institutions and high-profile backers, including Dubai Cultiv8, and international footballer Paul Pogba. Wahed’s mission is to change how the Muslim community participates in global financial markets by making investing accessible and ethically acceptable for the 1.8 billion Muslims globally.Once signed up to the Wahed App, users can securely create an account within minutes. The Wahed App will automatically suggest a portfolio for each user based on how they answer questions about themselves, considering the individual's financial situation, attitude towards risks, investment goals and other criteria. The portfolio models are overseen by the firms’ fund management professionals. Users can begin investing with as little as USD 100 while paying a fraction of traditional management fees. Wahed ensures that investors always have a diversified portfolio, regardless of their account size, thus making investing efficient for various types of people, whether they are entrepreneurs, working professionals or homemakers.
https://adgully.me/post/4588/etoro-gets-adgm-approval-to-operate-intheuae

eToro gets ADGM approval to operate in the UAE

Abu Dhabi Financial Markets Authority (ADGM), the international financial centre in the capital of the United Arab Emirates, and eToro, the global trading and investing platform, are pleased to announce today that eToro has received approval for a Financial Services Permission (FSP) from the Financial Services Regulatory Authority of ADGM to operate as a broker for securities, derivatives, and cryptoassets in the United Arab Emirates.Yoni Assia, Founder and CEO of eToro, commented: “The approval of our operating licence by ADGM is a key milestone in our continued global expansion. Abu Dhabi is increasingly recognised as a growing fintech hub, and we are excited to become part of this flourishing ecosystem.“With our team in Abu Dhabi led by Jason Hughes, Senior Executive Officer for eToro Middle East and George Naddaf, GCC & MENA Regional Manager, we are looking forward to deepening our relationships in this dynamic market and to helping our UAE clients grow their financial knowledge and wealth as part of a global community of investors.”Arvind Ramamurthy, Chief of Market Development at ADGM, said: “We are delighted to welcome eToro to ADGM. We are confident that ADGM’s dynamic ecosystem and progressive regulations will enable eToro's vision, ADGM is the largest regulated jurisdiction of virtual assets in the MENA region and eToro’s participation will add to its vibrant and trusted ecosystem of virtual asset trading venues, global exchanges and service providers, and reinforce the UAE’s strategic value to global finance.”Founded in 2007, eToro has over 34 million registered users, operates in over 100 countries and is localised in more than 20 languages. With the commitment to give you the tools you need to grow your knowledge and wealth, on eToro, users can view other investors’ portfolios and statistics, and interact with them to exchange ideas and discuss strategies.On eToro, users can hold traditional assets such as equities, currencies or commodities alongside ‘new’ assets such as crypto. eToro also offers its users a choice of how to invest, as users can trade directly themselves, invest in a Smart Portfolios, or copy the investment strategy of other investors on eToro’s platform.
https://adgully.me/post/1049/256-network-signs-an-mou-with-abu-dhabi-global-market-adgm

256 Network signs an MoU with Abu Dhabi Global Market (ADGM)

The 256 Network, a leading invite-only network group bringing together global decision-makers investing in private markets, signed a memorandum of understanding with Abu Dhabi Global Market, the international financial centre of the UAE's capital Emirate, on the sidelines of Abu Dhabi Finance Week. The week-long event served as a platform for in-depth conversations around the MENA region's thriving financial sector, industry trends, developments and innovation involving financial markets and global banking.The signing ceremony was attended by Dhruv Sehra - Founder and CEO of 256 Network, Pankaj Gupta, Co-founder and Co-CEO of Gulf Islamic Investments and Founding Board Member of 256 Network GCC Chapter & Prashanth Prakash, Founding Board Member of 256 Network and Founding Partner of Accel Partners, Rajan Navani (virtually), Founding Board Member of the 256 Network, VC & MD, Jetline Group (JetSynthesys) as well as Rajiv Sehgal, Chief Strategy Officer of ADGM, Dhaher bin Dhaher, CEO of Registration Authority of ADGM, Hamad Al Mazrouei, COO of ADGM and Saeed Al Khoori, Director of Sovereign and Strategic Partnerships of ADGM and other senior members from both entities. Part of the visit was to launch their offices in Abu Dhabi in line with their expansion plans.As per the MoU, 256 Network and Abu Dhabi Global Market (ADGM) will jointly collaborate on developing the startup ecosystems of India and UAE and catalyze cross border innovation and collaboration.The Group also launched their Emerging Fund Manager Fellowship where 256 Network will facilitate access, fund them and help first and second time fund managers from across the world in launching their funds. The program is designed for fund managers working on investment vehicles in venture capital and private equity. They will be able to leverage ADGM's expertise and access to gain a competitive edge while launching their funds.To know more and apply for the 256 Network Emerging Fund Manager Fellowship, please visit their website - https://www.twofiftysix.network/During Abu Dhabi Finance Week, 256 Network invited 250 of their global members for a retreat that included different activities, one of which was visiting the Hindu Mandir temple, the first traditional Hindu Temple in the Middle East.The visit was accompanied by Dr. Sultan Karmostaji, Deputy Director General Education Training Development at Ministry of Interior Abu Dhabi, Founder and Chairman of UAE Angels Capital Investment, and His Holiness Brahmavihari Swami, as well as 256 Network founding board members, Pankaj Gupta, and Prashanth Prakash.Dhruv Sehra, Founder & CEO of 256 Network, said: "The MoU signifies a vital milestone in international cooperation between the two entities. It will facilitate mutual assistance to strengthen the supervision of cross-border operations of financial institutions under their purview. As we cross the threshold into our expansion, we are keen to fortify our footprint in Abu Dhabi, as the group will spare no effort in consolidating the prominence of the UAE's thriving market and aspiration to continue inviting investors and leveraging its full-scale capacity."Rajan Navani, Founding Board Member, 256 Network and VC & MD, Jetline Group, said: "The MoU with ADGM has resulted into the creation of a sizeable international partnership that will help both the organisations groom upcoming fund managers by providing guidance and support like no other - one with synergy and great experience. This is also a significant step towards ensuring greater ease of investing and doing business in the MENA region which is full of untapped potential. I am looking forward to seeing what we can achieve together in the coming future."Prashanth Prakash, Founding Board Member, 256 Network and Founding Partner of Accel Partners. said: "Both of our regions have had long standing business relationships spanning decades and this expansion marks a new association which will catalyse synergies between both our business and start-up communities. I am excited to see the ensuing innovation and startups that get built as a result of our collaboration. Both our startup communities are amongst the fastest growing in the world and this partnership will not only create more jobs but also generate cultural and financial capital which will compound both our economies in this decade."Arvind Ramamurthy, Chief of Markets of ADGM, said: "We are pleased to partner with 256 Network through the signing of this MoU. This step is especially important as we witness the continuous growth and expansion of the financial market in Abu Dhabi and the UAE. Strengthening ties with international industry leaders is at the forefront of our strategy and we are looking forward to working with our partners in India to create more investment opportunities and develop a robust business ecosystem.We will continue to work with our strategic partners, locally and internationally, to further Abu Dhabi and the UAE's economic development plans and achieve greater investor trust, accessibility and ease of doing business in Abu Dhabi and beyond."