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 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.

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 management 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.

Please login to your Wahed account > Click on Funding > Add Funds > Fill the amount you wish to deposit.

You will then be able to see the receiving bank's details that you'll need. You will also receive an email with these details.

Once you have this information, you’ll need to initiate the transfer through your bank by making a bank transfer directly from your personal bank account (if the bank account is not in your name, the funds will not be invested and they will be returned to the bank account where they were received from.)

On your app dashboard, click on transfer and withdraw funds> Withdraw funds> Select the account you want to withdraw from> Select either partial or full withdrawal> if partial, select the amount you wish to liqudate> click on submit a withdrawal request.

Yes. For subsequent investments, the minimum investment amount is N50,000

Clients may request either a partial withdrawal of up to 95% of their portfolio or a full withdrawal at any time. The 5% buffer helps ensure your transaction is processed smoothly. If you wish to withdraw your entire investment, you may request a full liquidation of your portfolio.

Partial withdrawal simply means withdrawing part of your total portfolio value. For example, if you have an account of N150,000, and you wish to withdraw a partial amount, then you must choose your withdrawal amount to be N25,000 or above, up to 95% of your portfolio value.

You can only withdraw funds through bank transfers to your own bank account. You must choose a bank account in your name to initiate the withdrawal process.

Your bank may charge you for transfers, this fee does not go to Wahed.

Wahed does not charge any fees for withdrawals. However, the bank may apply charges on transfers, including stamp duty, VAT or other applicable charges for withdrawals. These fees are set by the bank and do not go to Wahed.

It usually takes 4-6 business days for your funds to be invested. The funds will first reflect as cash in your account, before being invested the next business day.

No, there is no lockup period. You can request to withdraw all your funds at any time.
Withdrawals can take up to 6-7 business days before the requested funds are in your bank account. This is mainly due to the time it takes for trades to be cleared and settled after your withdrawal request is processed.

No, you may only transfer funds from a bank account that bears your name. Transferring funds from a bank account under a different name will cause the funds to be rejected.

No, you may only withdraw funds to an account that bears your name.

The investment field has a minimum threshohold validation. Therefore, the app will not allow any investment below the minimum threshold.

We only accept funds in Nigerian Naira.

In case of any queries or concerns regarding your account, you may reach us by sending an email at nigeriasupport@wahed.com through your registered email or call +1 765-212-3831. We will get back to you at our earliest.

On your app dashboard, select the account you want to add funds to> click on add funds>Fill the amount you wish to invest and select if the deposit would be recurring or one-off> Select funding method> Click Submit.

The timing of a withdrawal depends on several factors, including what time of day a withdrawal request is made, and the institution receiving your funds.

Withdrawals can take up to 3 business days before the requested funds are in your bank account. This is mainly due to the time it takes for trades to be cleared and settled.

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.