What

1. What is ESA?

ESA stands for Everyday Shariah Account by Wahed. It's an alternative way to save your money, backed by a low-risk fund (KWIN) that aims to provide stable returns for short to medium term goals.

2. What are the fees for ESA?

There are no Wrap Fees (annual management fees) on your ESA. Your money can grow freely.
However, transactional charges still apply.
Check the Product Disclosure Statement for details.

3. Who is eligible to open a Wahed ESA?

You need to be:

• A Malaysian resident
• At least 18 years old
• Have an active Malaysian bank account
• Have a valid phone number

4. Can I open more than one Wahed ESA?

No. You only need to open ESA once — it’s designed for you to manage your cash all in one place.

5. Do I need a minimum balance to open or maintain the account?

You need at least RM50 to open an account.
After that, you don't need to maintain any minimum balance to earn the estimated returns.

6. What is the yield rate for the Wahed ESA?

Wahed ESA aims to provide competitive Shariah-compliant returns.
You can potentially earn returns up to 4.95% annually.

7. Is Wahed ESA Shariah-compliant?

Yes. The Wahed ESA follows Shariah-compliant principles in line with Islamic finance guidelines.

Both our in-house scholars and an independent external Shariah board (Shariah Review Bureau) follow AAOIFI guidelines when reviewing the structure, documents, and trades.
They issue formal Shariah compliance reports regularly.

8. What happens to my ESA if something happens to me (e.g., death/critical illness)?

You can nominate a beneficiary or inheritor for your assets (which includes ESA).
Wahed will administer it according to applicable laws.

9. What risks are involved in investing in ESA?

ESA is an investment product. Like any Shariah-compliant investment, returns are not fixed or guaranteed and depend on market conditions.
Extreme market or counterparty events could reduce returns or, in rare cases, affect principal.

However, ESA is considered one of the lowest risk investment products offered by Wahed and is designed for capital stability.

10. Can I lose my capital with ESA?

The strategy is designed for capital stability, but it remains an investment product.
Extreme market or counterparty events could reduce returns or, in rare cases, dent principal.

11. What protections do I have with my ESA?

Wahed is a licensed Digital Investment Manager by the Securities Commission Malaysia.
Up to RM100,000 of your investment is protected by the Capital Market Compensation Fund Corporation from fraud, misappropriation, or insolvency by a licensed capital market intermediary.

12. What are the benefits of ESA?

ESA helps you grow your money faster than inflation and typical savings products like Fixed Deposits.

Key benefits include:

• Shariah-compliant with no riba/interest
• No opening or maintenance fees
• Deposit and withdraw anytime
• Easy to track daily returns on the app
• Earn returns higher than inflation

Why

1. Why should I open a Wahed ESA?

ESA helps you grow your money faster than inflation and typical savings products. You get:

• Shariah-compliant savings with no riba/interest
• No opening or maintenance fees
• Deposit and withdraw anytime
• Easy to track daily returns on the app
• Protection from inflation

2. Does Wahed provide zakat calculation or assistance?

Yes. Use our Zakat Calculator tool to estimate Zakat on your Wahed portfolio (ETFs, stocks, sukuk funds, gold, and cash):
https://www.wahed.com/zakat-calculator

Note: The calculator covers only assets held within your Wahed diversified portfolio and Wahed thematic portfolio, not your overall personal wealth.

3. Who should open an ESA?

ESA suits anyone looking for Shariah-compliant, stable, and flexible savings, especially:

• New to investing: People who prefer stability, no hassle requirements, and fee-free savings
• Short-term savers: Those building an emergency fund or setting aside money for upcoming expenses (0–24 months)
• Budget-conscious planners: People who value easy access to cash and goal-tracking tools to stay disciplined

How

1. How are my returns generated without interest?

Your funds are not loaned out for interest.
Instead, they are invested in a Shariah-compliant ETF that uses an arbitrage strategy to buy and sell real assets.
This generates returns from temporary price differences in the market, not from riba.

2. How fast can I withdraw?

You'll receive your funds within 1–2 business days after requesting a withdrawal.
We’re working to reduce this time in the future.

3. How often can I see my returns?

Your balance is updated daily, letting you track returns more closely.
You can withdraw at any time to realize the returns.

Note: Returns are updated only when the market (where the fund is listed) is open. Returns are not updated during weekends and public holidays.

4. How is the use of options contracts permissible and Shariah-compliant?

The underlying fund (KWIN ETF) uses options contracts as part of buying and selling the underlying asset to lock in a hedge for future delivery.

Here's what makes it halal:

• The KWIN ETF purchases stocks without leverage or debt financing
• All options contracts are held to maturity
• Contracts only lock in the sale of the underlying asset
• Stocks are held in escrow (no stock lending)
• Ownership genuinely changes hands

This eliminates major non-compliant aspects of conventional options like:

• Uncertainty (gharar) in the transaction
• Speculation and gambling from contract optionality
• Earning premiums without underlying economic activity (riba)

5. How do I open and manage my Wahed ESA?

Opening your Wahed ESA is easy:

• New users: Select Wahed ESA during the product selection step of onboarding
• Existing customers: Open a new ESA directly from your dashboard by choosing “First ESA Account”

6. How do I deposit money into my Wahed ESA?

You can deposit funds via:

• FPX transfer for one-time deposits
• Setting up a recurring deposit

7. How long does it take for withdrawals to reflect in my bank account?

Withdrawals are typically processed within 1–2 business days before being credited to your bank account.

8. Is there a maximum withdrawal amount?

No set maximum. You can withdraw any amount up to your available balance, including making a full withdrawal.

Note: For full withdrawals, the final amount may differ slightly from your app balance due to real-time market price changes and applicable fees.

9. Is there a minimum withdrawal amount?

The minimum amount for a partial withdrawal is RM1.

10. How often can I deposit or withdraw?

You can deposit or withdraw anytime.
However, regular deposits are encouraged to reach your savings goals.

11. How do I nominate a beneficiary for my ESA?

Currently, Wahed ESA does not have a feature to directly enter a nominee in the app.
If something happens to you, your ESA will be handled according to applicable laws, and funds will be released to your lawful beneficiaries.

12. How do my family or beneficiary make a claim for my Wahed ESA account?

Your family or beneficiary needs to email the following documents to malaysiasupport@wahedinvest.com:

1. Copy of the account holder's death certificate
2. Valid documents confirming the relationship between the account holder and beneficiary
3. Letter of Administration from the Land District Office or High Court

The administration of funds will be managed by trustees appointed by law.
Wahed will keep these records as proof and cooperate with relevant authorities.

13. How do I track my ESA performance?

Track your performance daily via the Wahed app dashboard, which shows:

• Portfolio value
• Contributions
• Returns

Note: Returns are updated only when the market is open. Returns are not updated during weekends and public holidays.

14. How do I close my Wahed ESA?

Send an email to malaysiasupport@wahedinvest.com to request account closure.
Any remaining funds will be withdrawn and transferred to your linked bank account within standard processing time.

You can also choose to keep your ESA open with a zero balance at no cost.

15. Can I claim tax relief for contributions to ESA?

Currently, ESA contributions do not qualify for tax relief under LHDN guidelines, unless specified in future tax incentives.

Comparison

1. How does ESA generate income/returns similar to a high-yield savings account?

The underlying fund (KWIN ETF) takes advantage of arbitrage opportunities on Shariah-compliant US stocks and ETFs.
When a price arbitrage opportunity is detected, KWIN captures it by executing real transactions and hedging in the US stock market.

Since arbitrage availability is not guaranteed, you'll notice small daily fluctuations in the ETF return — this reflects the reality of market conditions.

2. How is this different from a regular high-yield savings account?

Banks typically pay interest from lending, and your savings are PIDM insured.
Most high-yield savings accounts come with conditions like maintaining a minimum balance or receiving your salary to get expected returns.

ESA earns profit from asset-backed trades, so returns stay halal. You get:

• Quick access to your funds
• Competitive returns
• No lock-ins
• Completely riba-free

Note: As with any investment, risk is involved.

3. Why should I choose Wahed ESA over a regular investment account?

Choose ESA if you're looking for a low-risk, steady way to grow your short to medium-term savings without market ups and downs.

More stable returns:
ESA delivers consistent, predictable growth without stock market volatility. Perfect for peace of mind.

Lower risk:
ESA has the lowest risk profile of all Wahed's products. It preserves your capital while growing it steadily — ideal if you're saving for a near-future goal.

No wrap fees:
More of your return stays in your account because there are no wrap fees. (Transaction-related fees still apply.)

Bottom line:
Choose ESA for halal, stress-free savings growth.
Choose a regular investment account if you're investing for the long term and can handle more risk for potentially higher returns.

4. How is Wahed ESA different from a regular investment account?

Wahed ESA is structured differently to provide a distinct profile in terms of return, risk, and fees.

Returns:

• Regular investment account: Seeks long-term growth with fluctuating market returns (higher potential gains, greater risk of losses)
• Wahed ESA: Aims for stable, consistent income with less volatility (lower-risk option)

Risk:

• Regular investment account: Invests in a mix of ETFs based on your risk tolerance (value goes up and down with stock market)
• Wahed ESA: Invests exclusively in a low-risk ETF (KWIN) designed for stable income with less volatility

Fees:

• Regular investment account: Has a wrap fee (management fee) charged annually
• Wahed ESA: No wrap fees (transaction fees still apply)