Frequently Asked Questions

Wahed Invest (“Wahed”) is a robo-advisory platform regulated by the FSCA. We provide simple, diversified, Shariah-compliant investment portfolios using locally regulated mutual funds, ETFs, and other approved instruments. Wahed automates the investing experience so clients can invest ethically and in line with their risk profile.

To open an account with Wahed South Africa, you must have:
• A valid South African ID
• A South African mobile number
• Proof of bank account in your own name (bank account confirmation or bank statement)

Halal investing refers to investing in a manner consistent with Islamic principles. This means avoiding interest-based instruments and excluding impermissible sectors such as alcohol, gambling, adult entertainment, conventional financial services, and companies with excessive debt. All portfolios are screened to comply with AAOIFI Shariah standards.

Under the FIC Act, we must verify that the bank account used belongs to you. This helps prevent fraud, ensures your withdrawals go to the correct person, and maintains regulatory compliance. Bank account confirmation or a bank statement must be provided.

You can begin investing with as little as R1,000. You may make additional contributions at any time.

No. Wahed is open to anyone who values ethical, transparent, and socially responsible investing. Many clients choose Wahed simply because they prefer ethical investing principles.

While you may be able to buy the securities recommended 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.‍

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Wahed also monitors and periodically rebalances your portfolio for no additional cost.

You may close your account at any time by emailing zafsupport@wahed.com. Once we receive your request, we will process any remaining balance to your verified bank account and close the account once all trades and settlements are complete.

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 advisor, your trust is our most important asset. Please refer to our privacy policy for more details.

For more information, you may contact zafsupport@wahed.com, visit our website, or review the policy on the app during onboarding. We also provide regulatory disclosures, fund information, and portfolio summaries for all investment options.

We help you invest your money in competitive diversified portfolios. Wahed provides Robo advisory services to you through the use of our advanced digital platform, which employs financial algorithms derived from Modern Portfolio Theory to create optimal portfolios that are tailored to the needs of our investors. By opting to use our services, you will be entering into an agreement that grants us the authority to invest and manage your funds.

Opening an account is simple.

1. To open an account with Wahed, you need to complete a risk assessment questionnaire
2. Then you need to complete the identity verification. This is required so we remain compliant with the regulatory bodies.
3. We will then recommend an optimal portfolio based on the answers you have provided us
4. If you are happy with the portfolio recommended, you may proceed to fund your Wahed account via EFT. Otherwise, you may select your preferred portfolio to proceed
5. We’ll then invest your funds according to your chosen portfolio

Our platform evaluates your risk profile by asking you a few basic questions about your investment goals, liquidity needs, time horizon, as well as other assessment topics. Based on this information, we recommend a portfolio with an optimized combination of investment assets/securities that may provide the highest potential return subject to your risk appetite. We use Modern Portfolio Theory to optimize and manage your portfolio at a fraction of the cost of most conventional wealth managers.

You will be able to monitor your performance daily through the platform. You can also download your monthly statements from your app which will have a summary of your portfolio holdings and performance.

Shari'a-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 review for Shari'ah-compliant 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.

Some of the funds and investments in your portfolios do pay out dividends, however, the frequency of such disbursement will depend on each fund's policies.

The dividends received on your investments will be automatically reinvested into your Wahed account.

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 the 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.

To view your portfolio holdings, users can log in 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 a diversified portfolio of securities. These securities are screened for Shariah-compliance.

Wahed's portfolio is designed to minimize risk and maximize return. 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.

We charge wrap fees for our service, which is inclusive of management, custodian, and transaction fees.

It is a percentage of your account size and ranges from N130 per month to 0.99% per year. You can refer to our pricing page for more information.

This fee does not include any charges on bank transfers or other fees that may be charged by the custodian or your bank.

The ETF sponsors or mutual funds usually charge expense ratios, which are not currently included in the wrap fee. These are extra fees you will pay indirectly. We always review these fees when we implement our initial rebalancing and we might at times strategically hold certain securities where the trading fees are high relative to the actual value of the position. For more information about our Fee Structure, please refer to our Client Agreement.

Wahed’s Wrap Fee is inclusive of all management fees. Your bank may charge you for EFTs.

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 R0 balance.

You will never be put in a more expensive fee tier due to market changes. You can, however, get placed into a less expensive fee tier due to upward market changes.

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 R0 balance. Kindly refer to the pricing tab for additional information.

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

You will then be able to see all of the receiving bank's details that you'll need.

Once you have this information, you’ll need to initiate the transfer through your bank by making an electronic funds transfer (EFT) directly from your personal bank account.

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.

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 liquidate> click on submit a withdrawal request.

Debit orders can be a great way for you to start saving automatically.
Simply log in to your account, select the account you wish to fund and the frequency of the deposit and you're set.
You'll need to have a linked bank account first.
Should you require further assistance, please email us at zafsupport@wahed.com

Yes. A minimum subsequent investment amount of R1,000

The minimum investment amount after withdrawal is R500

The minimum partial withdrawal amount is R500

Partial withdrawal simply means withdrawing part of your total investment amount. For example, if you have an account of R15,000, you may decide to carry out a partial withdrawal of R500

You can only withdraw funds through bank transfers

Our custodian may charge you for withdrawals, these fees do not go to Wahed.

1-2 business days from receiving your deposit.

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.

No, there is no lock-up period. You can request to withdraw all your funds at any time.

However, the withdrawal process may be between 3 to 5 working days depending on the date of your withdrawal and bank. This is mainly due to a period for clearing and settlement of trades once your withdrawal request has been processed.

No, you may only transfer funds from an account that bears your name. Transferring funds from an 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.

If you invest less than the minimum amount of R1,000 the account status will be “Active (Insufficient Funds).” There will be no trades or securities allocated until you fund at least R1,000 into your Wahed account.

We only accept funds in South African Rand

In case of any queries or concerns regarding your account, you may reach us by sending an email at zafsupport@wahed.com through your registered email. We will get back to you at our earliest.

A minimum investment of R1,000 is required for you to activate your account and start investing with Wahed

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. Furthermore, we cannot provide any financial advice or planning through our customer support team.

We calculate partial sales using the First In, First Out (FIFO) method. This is the standard accounting method recognised by SARS for determining capital gains. Under FIFO, the earliest units or shares you purchased are treated as the first ones sold. This may result in a higher capital gain if the earliest investments have appreciated more than the later ones. For this reason, FIFO is the default method we apply for our clients.
For example:
You buy 100 units of an investment at R50 each, and a year later buy another 100 units at R60 each. When the price increases to R80 per unit and you decide to sell 50 units, the FIFO method means the first 50 units sold will come from your original R50 purchase. This results in a capital gain of R30 per unit, or R1,500 in total.
Your gains or losses will be reflected daily in your account.

Your investments are held in a brokerage account in your name with AOS (Automated Outsourcing Services, FSP Number: 650), our licensed broker-custodian in South Africa. AOS is regulated by the Financial Sector Conduct Authority (FSCA), which means that they must follow strict rules to protect your investments. They act as a secure vault for your investments by handling all the technical work, such as buying and selling assets, processing transactions, and keeping your investments safe. AOS has the proper systems, controls, and expertise to securely hold your investments while ensuring full compliance with South African financial laws and regulatory standards.

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.

Yes. As your financial situation changes, it is important to keep us informed so we can determine whether to update our investment recommendations for you. Keeping your information up-to-date (e.g. address, name change, employment information) ensures we are providing the most relevant and personalized financial recommendations for your current financial situation.

Yes, it is important to keep your information up-to-date. Keeping your information up-to-date (e.g. address, name change, employment information) ensures we are providing the most relevant and personalized financial recommendations for your current financial situation.

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

Wahed Invest services are only available to accounts opened through Wahed. In order to provide our services, Wahed Invest 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. We track the flow of every rand for every Wahed account.

If you wish to change your portfolio, here's how you can do it:

Log in to the app and go to the main menu
Go to your Account Details screen
Under 'My investment account' tap on your account type
Tap on 'Change my portfolio' at the bottom of the screen
This will allow you to retake the questionnaire or simply browse through our portfolios and/or change your allocation

If your account is active and funded, your positions will be adjusted within the next 1 to 3 business days.

If you haven't funded your account yet, the new portfolio will be updated immediately.

You can only change your portfolio once every three months.

To generate a statement of accounts, you must log in to your account via the app. From your Dashboard, scroll down until you see statements under Activity.

When creating a password during signup, 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 !,@,#,$,%,^,&,*