Aramco-backed fintech opens bank branch in London to help Muslims invest
An investing platform backed by the likes of oil giant Saudi Aramco and French soccer player Paul Pogba is launching a novel proposition in the U.K.: a physical branch and bank accounts backed by gold.
New York-based Wahed, which describes itself as a «halal investing platform,» has opened a branch in the U.K. in a bid to target the country's 3.9 million Muslims with a sharia-compliant investment management and advice service.
The glossy retail location has a similar design to an Apple store, with digital displays inside and a bright sign displaying its logo outside.
It is located on Baker Street in central London, just opposite a branch of U.K. banking giant HSBC. Khabib Nurmagomedov, the Russian former professional mixed martial artist, is a promoter of the firm and will be among those attending the branch opening Tuesday.
Read more on cnbc.com
