Frequently Asked Questions

Wahed Limited (“Wahed”) is a discretionary Robo Adviser that aims to provide an efficient Halal and ethical investment platform. Our digital investment platform, sometimes also called Wahed or Wahed Invest, allows investors from all income brackets to invest their savings ethically and efficiently. Wahed’s corporate and regulatory information can be found in the legal section of our website.

You need to be able to provide BVN, NIN, a valid ID, proof of address and be at least 18 years of age. You also need a bank account to be able transfer funds in and out of your Wahed account.

We require your Bank Verification Number (BVN) and and National Identifictaion Number (NIN) to verify your identity, prevent identity theft, and provide an additional layer of security for your funds and transactions.

A minimum investment of N150,000 is required for you to activate your account and start investing with Wahed

No. Anyone can invest with Wahed.

While you may be able to buy the securities suggested by Wahed directly through your broker, our portfolio mix provides additional value through a cost-effective and efficient combination of investment assets/securities that may not be easily replicable on your own.
                                                                                                                                                                             
Wahed also monitors and periodically rebalances your portfolio for no additional cost.

You may close your account by sending us an email at nigeriasupport@wahed.com with your registered email.

All your personal information is safe with us. We implement a variety of advanced data encryption measures to safeguard your data. We will never share your details with any third party without your consent. As your Robo adviser, your trust is our most important asset. If you have any concerns about your data or privacy please email our Data Protection Officer (DPO) at nigeriadpo@wahed.com. Please refer to our privacy policy for more details.

For any query or clarification regarding our services, you can reach us at nigeriasupport@wahed.com. If you have any concerns about your data or privacy please email our Data Protection Officer (DPO) at nigeriadpo@wahed.com. We would be more than happy to assist you.

The term 'Halal' means lawful or permitted and Halal investing is one that complies with the Islamic law (Shariah). It is a type of investing that does not involve riba (interest), excessive uncertainties like gambling, and haram (prohibited) activities under the Islamic law.

Ethical investing is one that complies with moral principles and values. Unlike traditional investment practices, ethical investing balances profit with social and environmental impact

We help you invest your money in model Shariah-compliant portfolios. Wahed provides Robo adviser services to you through our app. A manual allocation strategy is used to construct portfolios that deliver reasonable risk-return characteristics within the mapped distinct volatility bands. This strategy uses available historical data for the funds eligible within the universe.
The construction adheres to the principles of:
(1) Diversification across asset classes, (2) Alignment with historical risk-return characteristics and (3) Priority to funds with reasonable AUM and implementation costs.
By opting to use our services, you will be entering into an agreement that grants us the authority to delegate the right to invest and manage your funds on your behalf to a third-party broker, but Wahed will remain overall responsible to the client and the subject for any complaints.

Opening an account is simple.

1. First, you will need to complete a product suitability assessment.
2. Based on the information you provide, you will see a suggested portfolio.
3. You have the choice to proceed with the suggestion or to select any other portfolio at your own discretion.
4. Then you need to complete the identity verification process providing your BVN, NIN, a valid ID, and proof of address. This is required so we remain compliant with the regulatory bodies.
5. Once your verification is complete we will inform you by email. Thereafter you may proceed to fund your account.‍
6. Once the funds reach us, we’ll then invest your funds according to your selected portfolio (investment mandate). We do this by delegating the trade execution to an authorised broker.

For more details please refer to our Client Agreement.

A manual allocation strategy is used to construct portfolios that deliver reasonable risk-return characteristics within the mapped distinct volatility bands. This strategy uses available historical data for the funds eligible within the universe.
The construction adheres to the principles of:
(1) Diversification across asset classes, (2) Alignment with historical risk-return characteristics and (3) Priority to funds with reasonable AUM and implementation costs.
By opting to use our services, you will be entering into an agreement that grants us the authority to delegate the right to invest and manage your funds on your behalf to a third-party broker, but Wahed will remain overall responsible to the client and the subject for any complaints.

You will be able to monitor your performance regularly through the platform though there can be some delays in obtaining live price information as we depend on this information from third party fund managers. You can also download your monthly statements from your app which will have a summary of your portfolio holdings and performance.

Shariah-compliant investing is the practice of trading in investments that are reviewed for permissibility according to Islamic financial ethics, laws and industry practices. Generally, this will mean screening out investments in certain conventional business sectors, as well as reviewing such remaining candidates to ensure they meet established asset to debt ratios. For more information on how our team ensures investments are reviewed for Shari'ah-compliance click here.

Wahed screens potential portfolio investment based upon a strict set of constraints in accordance with best-practice Shariah-compliance standards, reviewed by our Shariah supervisory board (SSB). In summary, any portfolio cannot hold investment of any company or fund that:

Provides conventional financial services and any other related interest-bearing services.
Manufactures/sells products or services not approved by our SSB (i.e. liquor, tobacco, gambling, adult entertainment, weaponry, etc).
Does not have a certain percentage of real or physical assets.
Does not meet certain debt ratios.

In order to display our commitment to best practices in the field of Shariah compliance, we have designated Shariyah Review Bureau, a leading Shari'ah financial advisory firm, as our Shariah advisor. Our Shariah advisor provide the external, independent experts who sit on our SSB and advise Wahed on matters of Shariah-compliance and Islamic financial ethics.

You can see the certificate here.

The securities you own are subject to market risk. Fluctuations in market conditions are common, and when markets are down you may bear some loss. To make sure your portfolios are permitted under Islamic financial ethics, we cannot guarantee returns.

Your expected return depends on your risk profile, asset allocation and the related market performance of those portfolio assets. Users with a conservative profile are expected to earn less and be exposed to less risk than users with an aggressive profile, who will be exposed to more risk in exchange for possibility of higher returns.

You can view our portfolios' historical performance on our Investing page.

Please note that historical returns are not an indication or guarantee of future results. Any portfolio investments may gain as well as lose value. Capital is at risk.

To view your portfolio holdings, users can login to the Wahed app and under their Portfolio page, the Positions tab will show the current state of their investments.

All Wahed clients are invested into our model portfolios of securities. These securities are screened for Shariah-compliance.

There is no certainty in performance and your annual return will depend on multiple factors including your risk profile and market conditions. More aggressive profiles are expected to earn higher returns on the Wahed platform, but may also experience greater losses depending upon market conditions and the performance of related investments. Capital is at risk.

Wahed’s Wrap Fee is inclusive of all management fees. Additionally, the bank may charge you for transfers such as, stamp duty, VAT or any other charges, as may be applicable for deposits and withdrawals. This fee does not go to Wahed.

Yes, you can request to close your Wahed account at any time. There are no account closure charges.

No, you will never be charged for an account with a N0 balance.

Yes, it is possible that you end up in a different fee tier than what you started with, based on your portfolio balance for the day. Please refer to our Client Agreement for more details around our managament fee.

Fees are taken from your Wahed account. No action is required on your part.

Fees are charged monthly. You will never be charged for having an open account with a N0 balance. Kindly refer to the Pricing tab to know more.

All customers have access to our customer support team that will happily answer any questions regarding your account. However, we cannot alter anything with you over the telephone or in-person regarding your investments or your recommended allocation – this can only be done through the Wahed App. Futhermore, we cannot provide any financial advice or planning through our customer support team.

Yes, it is important to keep your information up-to-date. Keeping your information up-to-date (e.g. address, name change, employment information) helps us ensure we are complying with all legal requirements and to ensure our product is suitable for your use.

Yes, it is important to keep your information up-to-date. Keeping your information up-to-date (e.g. address, name change, employment information) helps us ensure we are complying with all legal requirements and to ensure our product is suitable for your use.

We do not currently offer any tax planning advice or services.

Wahed's services are only available to accounts opened through Wahed App. In order to provide our services, Wahed must have the ability to electronically place trades for all of its accounts.

You can see every transaction that has taken place on your account by logging into the Wahed app.

To generate a statement of account, here's how you can do it:

Login to the app
On your dashboard, click on the main menu (the bar at the top left of your screen)
Then click on "Documents"
Then select the statement you wish to download

When creating a password during sign up, please ensure that the following conditions are met:

Length is at least 8 characters
Must contain both an uppercase and lowercase letter ('A' and 'a' or 'B' and 'b')
Must contain a number (any number from 0 to 9)
Must contain a special character such as !,@,#,$,%,^,&,*

Yes, you can open multiple accounts all from one dashboard.

Once your first account is active and funded, you'll see a button on the dashboard that allows you to add new accounts under that same email.