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Junaid Wahedna, Founder & CEO of Wahed on Opportunities in the Fintech Space
Junaid discusses how Wahed has been a contrarian to the “fintech norms”. Where other fintechs may release lending, or day trading products. Instead, Wahed has focused on a long-term savings product that has allowed them to outperform their competitors in the climate of an economic recession. These strategies have allowed Wahed to grow its revenues by 75% in the last year.
Junaid also talks about how Wahed started as a savings solution where a faith-based investor can contribute to a diversified portfolio where each payment is screened to avoid interest-based systems. “It seems very simple, but it hasn’t really been done for this specific use case,” said Junaid Wahedna, Founder & CEO of Wahed. “As a banking user, in a high-street bank, your money is kept in fiat currency. Whereas with us it’s always kept in a real asset so you don’t have the same inflationary pressures.”
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