Introduction

These are our standard client agreement terms and conditions (“Terms”), and it sets out the basis on which Wahed Invest Ltd (“Wahed”) provides you with its discretionary investment management service, and Wealthkernel Limited (the “Custodian”) provides custody, execution and settlement services. References to “we”, “us”, or “our” are references to Wahed. “Client”, “you” and “your” refer to any person operating or intending to operate an account with us.

References to ‘subsidiaries’ are references to Wahed Invest Ltd’s subsidiaries and affiliates, including Maydan Capital Ltd as "WahedX", "Wahed Ventures".

These Terms are split into sections, in which Section 1 deals with matters specific to Wahed’s services to you, Section 2 deals with matters specific to WealthKernel’s services to you, and Section 3 deals with general matters between you and us.

It is important you read these Terms carefully before making any investments, because we will rely on them in all our dealings with you. You should also print off a hard copy, and then keep it safe for future reference.

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Section 1: Wahed Invest Ltd

This section sets out the basis on which Wahed is carrying on managing investments for you.

Wahed Invest Ltd is authorised and regulated by the Financial Conduct Authority (Reference number: 833225).

Wahed provides a service whereby Wahed will manage your investments on a discretionary basis. This means that Wahed manages your investment portfolio in accordance with an agreed investment mandate. This mandate will be explained to you in your Personal Investment Report, made available to you through the App after you sign up. Wahed delegates out the Investment Management to a third party called WealthKernel Ltd, but Wahed will remain overall responsible to the client and the subject for any complaints.

Using Wahed’s App, you will provide personal information so Wahed can first determine if investing is suitable for you. If you are suitable, Wahed will allow you to proceed forward with opening an account. You must answer yourself and to the best of your ability to ensure Wahed’s service is suitable for you.

You will be asked to pick one portfolio (investment mandate) from a selection of options.

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Wahed Invest does not provide regulated advice

Please note that Wahed does not provide advice on investments. If you have any questions regarding your investments, including the risks associated with investing in a particular product or market, you should consider seeking independent advice from a suitably qualified professional advisor. This might include, but may not be limited to, financial advice, investment, legal and tax advice. Wahed cannot give you any investment, legal, taxation or other advice in connection with your investments. Wahed will only assess whether or not you are suitable for Wahed’s service. If you are unsure or feel that your needs go beyond the scope of the service, Wahed recommends that you seek independent financial advice.

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What is Wahed’s discretion when managing your investments?

Wahed will manage your assets, on a discretionary basis, in accordance with your investment mandate Report and these Terms. This means that Wahed will, normally acting as your agent, have discretion in respect of your portfolio to enter into any kind of transaction on your behalf, in line with your agreed investment mandate, using a broker or agent if Wahed chooses.

Wahed also has the right to change your investments should circumstances change, for example you withdraw your money so that what is left is not sufficient to justify the strategy being used. Wahed may also exercise this right if the nature of your investments change to the point they no longer match with the requirements of your investment mandate.

Ongoing Suitability

Every 12 months Wahed will contact you to make sure the service is still suitable. In the event that this is not the case, Wahed may recommend an alternative investment selection, or that you close your account with Wahed. Furthermore, Wahed reserves the right to stop managing your investments on a discretionary basis.

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Exit

If Wahed finds that investing with us is not suitable for you, Wahed reserves the right to exit you from Wahed’s system. Wahed will explain why this happened and offer you a way to resolve the issue.

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Conflict of Interests

Wahed will always endeavour to act in your best interests as Wahed’s client. However, circumstances can arise where Wahed or one of Wahed’s other clients may have some form of interest in business being transacted for you. If this happens or Wahed becomes aware that Wahed’s interests or those of one of Wahed’s other client’s conflict with your interests, Wahed will act in accordance with its Conflicts of Interest policy (a copy of this is available upon request).

Wahed has a compliance department which is responsible for ensuring that Wahed’s control structures and procedures are adequate to ensure compliance with all relevant laws, regulations, codes and practices relating to Wahed’s business activities. Wahed are committed to operating in the best interests of Wahed’s clients and managing conflicts of interest fairly. Where there is a conflict of interest, Wahed will not knowingly deal unless Wahed has taken reasonable steps to ensure fair treatment for its clients.

Wahed FTSE USA Shariah ETP

Wahed has discretion to include within your investment portfolio investment product(s) which are managed and/or advised by Wahed or an affiliate of Wahed. Specifically, Wahed FTSE USA Shariah ETP is an Exchange Traded Note or ETN (as defined below) which invests in Wahed FTSE USA Shariah ETF, as the underlying reference asset of its investment strategy. Inclusion of Wahed FTSE USA Sharia ETP within your investment portfolio can create a potential conflict of interest due to (i) the relationship of Wahed’s affiliate, Wahed Invest LLC as the investment adviser of Wahed FTSE USA Shariah ETF and (ii) the fund fees borne by Wahed FTSE USA Shariah ETP as an investor in Wahed FTSE USA Shariah ETF, a portion of which are retained by Wahed’s affiliate, Wahed Invest LLC. Whilst Wahed has determined that inclusion of the Wahed FTSE Sharia ETP in investment portfolios is in the best interests of clients, and mitigates any potential conflict of interest by limiting the portion of it in such portfolios, the appearance of a conflict of interest may persist. Please note, the Wahed is not the issuer, sponsor nor investment manager of the Wahed FTSE USA Shariah ETP, nor does it receive a direct fee from Wahed FTSE USA Sharia ETP.

Voting rights

In providing its discretionary investment management service to you, Wahed may decide at its discretion whether or not to procure the exercise of any voting rights attached to your investments. Wahed shall be entitled to exercise such rights at Wahed’s discretion, provided that Wahed is in compliance with Wahed’s conflicts of interest policy, which can be found in Wahed’s regulatory FAQs in the Wahed App.

Wahed’s liability

Wahed is committed to providing you its discretionary management service with reasonable skill, care and diligence under these Terms. As long as Wahed does this, Wahed cannot and does not accept any liability for loss (or loss of an opportunity to gain) which arises from the exercise of Wahed’s discretionary investment management for and on your behalf.

Please note Wahed does not provide, nor does Wahed accept responsibility for, legal, tax or accounting advice. Wahed also does not accept liability for an action, or failure to act, by your Custodian, as this is the responsibility of the Custodian.

Please note, however, that despite the above, Wahed does not limit or exclude Wahed’s liability for fraud or death or personal injury as a result of Wahed’s negligence or that of Wahed’s employees.

Cancellation Rights

Wahed will always honour your statutory rights. After agreeing to invest with Wahed, you are still entitled to cancel your investment for up to 14 calendar days after having opened your account (the ‘cancellation period’). This is done by sending Wahed written notice of the cancellation to uksupport@wahedinvest.com.

If you cancel your investment within the cancellation period, Wahed will sell your investments and return the money from any sale to you. Wahed will sell your investments within two business days (on which the relevant markets are open) of receiving your cancellation instruction, subject to circumstances beyond Wahed’s control.

Please be aware that if the value of your investment(s) has fallen you will not get back the full amount you invested. You will also be liable for any costs Wahed has to pay on your behalf in order to sell the investments.

Termination

You or Wahed may terminate Wahed’s discretionary management service at any time, without penalty. If you wish to terminate the services, you must notify Wahed in writing by email to uksupport@wahedinvest.com, and termination will take effect from the date of receipt.

Please note that if and when Wahed’s services are terminated, unless Wahed agrees with you otherwise, Wahed will sell your investments and return the money it receives as a result to you. Subject to circumstances beyond Wahed control, Wahed will sell your investments within two business days (on which the relevant markets are open) of receiving your termination notice/ Wahed’s decision to exit you from Wahed system.

If the value of your investment(s) has fallen you will not get back the full amount you invested. Also, please be aware that Wahed offers no refunds for payments already made to Wahed.

Termination of Wahed Invest Ltd’s services will not impact your use of services offered by Wahed Invest Ltd’s subsidiaries unless you are notified otherwise.

How do you keep track of investments and performance?

A statement showing the composition and initial value of your portfolio is provided in the portfolio section on the Wahed App. When you instruct Wahed to start providing Wahed’s discretionary management service, Wahed will acknowledge its instructions to you in writing, usually by email.

Wahed will report to you at least every three months with valuations of your investments, so that you can see how they are performing. In order to help you assess the success of your investments, Wahed will also include in these reports a comparison against a suitable benchmark.

Unless Wahed informs you otherwise, the benchmark Wahed uses is the Consumer Price Index.

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Section 2: WealthKernel

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Who Handles Your Money and Investments?

By opening an account with Wahed you will automatically become a customer of WealthKernel, who acts as your custodian and ISA Manager, and provides settlement and execution services. Therefore, when you open an account with us, you not only agree to our Terms, but you also agree to WealthKernel’s Terms and Conditions set out below.

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WealthKernel Retail Client Terms and Conditions, click here.

WealthKernel ISA Manager Terms and Conditions, click here.

WealthKernel JISA Terms and Conditions, click here.

WealthKernel SIPP Terms and Conditions, click here.

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Section 3: General obligations

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What are your obligations?

To enable us to provide you with a proper service, we require you to do the following for us:

Agree with each of Sections 1-3 of these Terms. Please note that we reserve the right to replace your custodian in the future with another custodian.
Confirm that you have not supplied us with information in your suitability questionnaire or otherwise which is inaccurate or misleading;
Notify us promptly of any change to the information supplied by you to us;
Supply us with all information, documentation or copy documentation that we require in order to allow us to carry out our account opening procedures;
Provide us with any additional information which may be reasonably required in order that we can fulfil our legal, regulatory and contractual obligations;
Confirm that the investments and cash within your account portfolio are within your complete ownership and free from all liens, charges and any other encumbrances;
Not, except through us, deal, or authorise anyone else to deal in the investments in your account; and
Undertake to sign and/or produce, by the time we ask you to, any documents we need to enable us to carry out our duties on your behalf.

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Non-UK and UK residents

In order for us to provide you with our services, you must have a UK Bank account and be a UK resident for tax purposes. The address which you provide us when signing up to our services will be your permanent residential address for Tax residency purposes. If you cease to be a resident in the UK for tax purposes, then you must notify us immediately. We do not offer advice on your tax circumstances; therefore, we recommend you speak to an independent tax advisor if you are unsure.

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Minimum deposit to open an account

You must invest a minimum amount of £50 to open an account.

Fees

We fully disclose our fees to you in monetary and percentage terms on the Pricing page of our website. They are also available for review at all times in the app on your monthly statements We calculate and collect fees monthly based on the value of the amalgamated portfolios.

The fees charged will be at least the minimum monthly fee of £2.99 or will follow the tiered pricing structure outlined on our Pricing page (1% per annum for amalgamated portfolio values less than £250,000, 0.75% per annum on any AUM between £250,000 and £1,000,000, and 0.5% per annum on AUM over £1,000,000).

We will only charge you our asset management fees (the Fund Provider fees are charged by the providers of the underlying funds in your portfolio).

We reserve the right to void this structure if we suspect a customer is purposefully withdrawing and reinvesting funds to take advantage of the system.

Please note that it is possible that taxes or costs may exist in addition to those which we pay or impose.

Anti-Money Laundering

The anti-money laundering regulations require us to verify your identity, to gather information as to the purpose and nature of the business which we conduct on your behalf, and to ensure that the information we hold is up-to-date. We use electronic identity verification systems, at the beginning and throughout our relationship with you. This means your personal information will be shared with third parties, i.e. the relevant agencies who operate the identity verification systems. In addition, we will verify the validity of your bank account information and this will involve us sharing your personal and financial information with 3^rd party providers. Their services compare your data against: bank account data, electoral roll, UK Companies House (and this includes the bankruptcy and insolvency register and database of disqualified directors), and other publicly available information such as media reports. Please note that we cannot provide our services to you until you have passed our initial and periodic ongoing anti money laundering checks. Failure to comply with any request raised by Wahed Invest Ltd and/or its subsidiaries and affiliates will mean termination of the business relationship between the client and one or more Parties.

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How will we communicate?

We will communicate with you in English by email. You may communicate with us in English by email, in accordance with procedures notified to you by us (including security procedures and use of passwords).

You accept that we are deemed to have received any email correspondence at the time we access it. You accept that there may be a delay in responding to correspondence received via email. You also acknowledge and accept the risks inherent in email, particularly of its unauthorised interception and of its not reaching the intended recipient.

Although we take all reasonable care to ensure all electronic communications and attachments we send to you are free from any known virus or bug, we will not be responsible for any loss or damage resulting from any attack by a third party on our systems, any computer virus or any other malicious or technologically harmful material that may infect your computer equipment, computer programs, data or other material due to your use of our service

We will communicate with a third party, who you authorise, at the address(es) you notify to us in writing. As long as we act reasonably you authorise us to rely on instructions by whatever means transmitted which appear or purport to be sent by you or a third party authorised by you.

We may record and monitor conversations we have with you, and we will keep a record of all communications for as long as required by law or we feel appropriate.

Communication by someone not signed up to these Terms

If you authorise us to accept the instructions of a person not signed up to this agreement, such as your Introducer, we will do so until we receive notice to the contrary from you. The same rules (set out under “How will we communicate”, above) apply to instructions received from this authorised person as they do to instructions received from you and you must ensure that your authorised third party complies with these rules.

When may we not act on your instructions?

We reserve the right not to act on your instructions if:

to do so may involve us or you in a breach of legal and/or regulatory requirements; or
we believe on reasonable grounds that to do so would be impracticable or against your interests; or
to do so would run the risk of us suffering financial loss.

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We will endeavour to advise you promptly if such circumstances arise.

Client Protection

We will treat you as a retail client. This means that you will have the highest level of protection under the rules made by the Financial Conduct Authority (the “FCA Rules”). You will also have the right to take any complaint which you cannot settle with us to the Financial Ombudsman Service. You may at any time ask us to re-categorise you as a professional client, but it is not our general policy to re-categorise retail clients and we can reject your request if we feel that you do not meet the requirements of a Professional Client. When we refer to the FCA and the FCA Rules, we also mean any regulator which may replace the FCA and the rules it may make to regulate our business.

Wahed Invest Ltd and the Custodian are members of the Financial Services Compensation Scheme which provides customer protection of up to £85,000 per person per firm, if Wahed Invest Ltd or the Custodian is declared in default. This doesn't cover losses incurred through investment performance.

Further details of the Financial Services Compensation Scheme are available from:

Financial Services Compensation Scheme

PO Box 300

Mitcheldean

GL17 1DY

https://register.fca.org.uk/s/

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Complaints

We are committed to providing you with a first-class service. If anything does go wrong, we aim to put it right quickly and efficiently. If we cannot resolve a problem immediately, we will contact you to tell you what we are doing about it. If you wish to complain about any aspect of our service, please contact us by emailing uksupport@wahedinvest.com and we will provide you with a summary of our complaints process and procedures.

If we do not deal with your complaint to your satisfaction, you can refer it to the Financial Ombudsman Service, whose contact details are:

Financial Ombudsman Service

Exchange Tower
London E14 9SR

Telephone: 0800 023 4567

Email: complaint.info@financial-ombudsman.org.uk

www.financial-ombudsman.org.uk

This does not prevent you from taking legal proceedings.

Who regulates us?

Wahed is authorised and regulated by the Financial Conduct Authority (“FCA”), 12 Endeavour Square, London, E20 1JN. Our address is 87-89 Baker St, London W1U 6RJ. Our Financial Services Register number is 833225, and the full FCA Register is available on the FCA’s website www.fca.gov.uk/register or by contacting the FCA on 0800 111 6768.

We are authorised by the FCA for, and our main business concerns, managing investments, as well as arranging savings and investment products.

What are the specific risks of the products you are investing in?

It is very important to us that you understand the risks involved when making an investment. As such, in addition to our general description of the relevant risks we set out in our terms and conditions and Personal Investment Report, we set out here the risks of investing in the different types of asset we may select for you:

General risks:

Please note that the value of your investments can fall as well as rise and you may not get back the full amount you invested. The price and value of investments may depend on fluctuations in the financial markets, or other economic factors, which are outside our control. Past performance is not necessarily a guide to future performance.

Bonds and other fixed income investments have the following risks:

● the price of bonds can go down as well as up, for example the price of bonds tends to fall when interest rates rise;

● if the proceeds from holding bonds are reinvested in bonds, the new bonds may not provide as large an investment return as the previous bond;

● the interest or profit rate provided by bonds can be fixed, in which case you may receive a return that does not keep up with inflation;

● if the provider of the bond becomes insolvent or otherwise unable to pay its debts, then the bond may become valueless; and

● there is the risk, if selling a bond back into the marketplace, that there is difficulty finding someone willing to buy it, lowering the value of the bond.

Company equity (also called company shares) has the following specific risks:

● share prices can go down as well as up – this is particularly so for smaller companies, as the combination of both less shares and less buyers of those shares means the share price can change more rapidly;

● dividend growth is not guaranteed, nor are companies obliged to pay a dividend to you as an investor;

● companies may go insolvent rendering the shares you hold valueless;

● the market for equity may decline in value;

● the company’s earnings and financial markets generally may be volatile; and

● for smaller companies, shares may not obtain their full value on sale if there is difficulty finding a buyer for those shares.

Exchange Traded Products (ETPs): are securities traded on a stock exchange which aim to provide the same returns as a specified benchmark or asset (before fees). ETPs are typically divided into three categories, exchange traded funds (ETFs), exchange traded commodities (ETCs) and exchange traded notes (ETNs).

ETPs have the following specific risks:

Market Risks - ETPs replicate the price movement of their underlying benchmark or asset, so their performance is affected by the volatility of their underlying markets.
Tracking Difference - the structure and cost of an ETP means it may not track its underlying exactly.
Tax - as with the majority of investments, ETPs will usually incur some form of taxation. You should obtain your own independent tax advice.
Costs - all ETPs incur costs, whether internal costs (related to the product) or external costs (incurred in trading the product).
Currency - any investment involving a non-local currency may be affected by exchange rate fluctuations (unless the product incorporates a currency hedge).
Credit Risk - like debt securities, an investor is subject to the credit risk of the financial institution which is the issuer or underwriter of an ETC or ETN.
Liquidity Risk - ETPs such as ETCs and ETNs are less liquid than ETFs and they may also contain holding-period risk. As with other ETPs, there is no guarantee a secondary market will be made or maintained.

A physical gold ETC issues metal securities which are listed on a stock exchange and can therefore be bought and sold any time the market is open. Each metal security is backed by a specific quantity of the underlying commodity (i.e. gold), which is stored in a designated vault where it is reserved for the physical gold ETC and segregated from the general stock of metal stored in that vault.

Physical gold ETC have the the following specific risks:

the price of metal securities issued by the ETC is affected by a number of factors that are not in the control of the ETC, such as the value and volatility of the underlying metal, market perception and the liquidity in the metal securities on the stock exchange;
the value of the metal security might be calculated by the ETC in a different currency to the currency of the underlying metal, which can cause your investment to lose value;
the price at which the metal securities trade on a stock exchange may not reflect the value of the underlying metal; and
metal markets can suffer from market disruption or volatility caused by shortages of physical metal.

Overseas investments: these have the risk that they are priced in a currency other than pound sterling (this being the currency of your initial investment). If the exchange rate between pound sterling and other overseas currency changes, such that the same value of overseas currency is worth less pounds sterling, this will cause your investment to lose value. Conversely, the opposite may happen, in which case there will be an increase in the value of your investment. Please note that the effect of investing overseas is separate to and in addition to the actual investment itself.

Investments in emerging markets: have, in addition to the risks involved in investing overseas, significant political, regulatory and economic risks. These may differ in kind and degree from the risks presented by investments in the world’s major markets. These investments have a greater risk of a sudden fall in value, for example if there is difficulty selling them, or as a result of governmental interference.

Please note that there may be other risks in addition to those outlined above in relation to your investment, and there may be further risks that arise in the future.

If any of the risks outlined above are unclear or if you would like to discuss the risks you face in further detail, please let us know by sending an email to uksupport@wahedinvest.com

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Data Protection

All of your personal information and financial information (called personal data) will be processed in accordance with our Privacy Policy, available through our website.

Changing or replacing these Terms

We may make changes to these Terms for the following valid reasons:

Changes to relevant law or regulation, or a decision of the Financial Ombudsman Service.
Changes to the way we are taxed (including the requirement to pay any government or regulatory levy), or you and your product are taxed.
Changes required by any regulatory or tax authority or industry guidance or codes of practice.
Changes in the way investment markets work, including changes in investment/securities dealing or administration which may affect your account.
To make the Terms easier to understand and any other changes that are not detrimental to you.
If it becomes impossible or impractical, in our reasonable opinion, to carry out any of the Terms as a result of circumstances beyond our reasonable control.
To reflect changes to our services or the manner in which we provide them to you.
To reflect changes to the level of charges applicable to your account.
To reflect changes to the range of investments we make available to you from time to time.
To reflect improvements to our online service that technological, service or propositional enhancements have allowed us to make.

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Changes to these Terms which are due to reasons outside our control (e.g. changes in legislation) or are not detrimental to you (e.g. improvements to the service we are able to offer you) will take effect immediately and we will notify you at the next appropriate opportunity. We will not be liable to you for any failure or delay in performing our obligations under the Terms if such failure or delay is due to any cause outside our reasonable control. Events outside our reasonable control include, but are not limited to:

Acts of God, fire, earthquake, storm or flood.
Explosion, nuclear accident or collision.
Sabotage, riot, civil disobedience, strikes, terrorism.
Epidemic, national emergency (whether in law or fact), or act of war.
Any change to the law or regulation of a governmental or regulatory body.
Market conditions affecting the execution or settlement of transactions in respect of your account.
Any targeted network attack or interruption of the internet or other telecommunications service.
Loss of supply of essential services including electrical power and third-party services.
Any other cause beyond our reasonable control which prevents us administering your account for a given period of time.

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Otherwise, we will write and tell you about any material changes at least thirty (30) days before a change becomes effective and where this is reasonably possible. If it is not, we will write to you at the earliest opportunity after the change has taken place.

Other information?

Transfers

Unless we agree specifically in writing otherwise, all transfers into and out of your account will be in cash and payments by you will be by bank transfer to us.

If you the client are more than one person

Each of you will be jointly responsible for complying with your obligations, and each of you bear full liability for any breach of these obligations. Any notice given to any of you will be deemed to be given to all of you, and we may act on the instructions of any of you.

Our Bereavement Process

We will suspend taking instructions in relation to your estate. This means that we will continue to manage your account in accordance with any instructions you have given us so far. We also reserve the right to exercise our absolute discretion to make payments to HMRC to help you deal with inheritance tax. Otherwise, we will only take further instructions once we have been presented with a valid grant of representation from a court.

Assignment is prohibited

You may not assign or transfer any of your rights or responsibilities in relation to your account with us.

Only parties to this contract may enforce it

Unless and to the extent we agree otherwise in writing, a person who is not a party to these Terms shall have no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any of its terms.

Closing prohibited Comment

These Terms apply to all investments you make with us, and provide information about the way in which we provide our services to you. The law of England and Wales governs these Terms and your account with us and any matters or disputes related to these Terms will be subject to the exclusive jurisdiction of the courts of England and Wales. Our Terms are in English as will be all communications between us.

If you have any questions or something doesn’t make sense, please let us know by emailing us at: uksupport@wahedinvest.com. Unless we agree otherwise in writing, these Terms apply to all services we provide to you and any associated work.

Contact us

Please contact us by emailing uksupport@wahedinvest.com in case of questions about our processing of personal data, or about these Terms generally.

Consent

It is important to us that you understand and are happy with these Terms and your Personal Investment Report. If you have any questions or something doesn’t make sense please let us know by emailing uksupport@wahed.com. Unless we agree otherwise in writing, these Terms and your Personal Investment Report apply to all services we provide to you and any associated work.

If you are happy with these Terms, please can you indicate below that you consent to be bound by them (your consent to these Terms may also be recorded by your electronic confirmation). We need this consent before we can provide you with our discretionary management service.

Please note that by agreeing to these Terms:

● You acknowledge receipt of these Terms and that these Terms apply to investments you make with us.

● You acknowledge that you have read these Terms carefully.

● You elect not to receive information on every transaction we execute on your behalf, but rather to receive our reports monthly (unless we have agreed otherwise).

● Agree that your Personal Investment Report is accurate and a fair description of your financial situation, and to be bound by its requirements.

● You authorise the transfer of information, on a confidential basis, as required under these Terms, between third parties, subsidiaries and affiliates.

● You confirm that you have read, understood and agree to our best execution policy (available in our FAQs section on the website).

● You confirm that you have read, understood and agree to our conflicts of interest policies.

● You specifically consent to being provided information regarding our service through the Wahed App.

You confirm that you are a UK resident, and that the address you provided us when signing up to our services is your permanent residential address for tax residency purposes.
You have fully understood the risks inherent in Wahed’s investment products and have been given the opportunity to ask any questions regarding such investment products.

Legal Terms and Conditions Use of Website and Wahed app

This website, whose home page is located at URL https://wahed.com/ (the “Website”) and the Wahed app (the “app”) is an online information service provided by us, subject to your compliance with these terms and conditions (“Terms and Conditions”). These Terms and Conditions apply to the entire content of the Website and app and to any correspondence by email between you and us. You should read these Terms and Conditions carefully before using the Website or app. By using the Website or the app you indicate that you accept these Terms and Conditions. If you do not wish to be bound by these Terms and Conditions, do not access or use the Website or the app.

Introduction

These Terms and Conditions are issued by Wahed Invest Ltd whose registered office is 87-89 Baker Street, London, W1U 6RJ. When we use "we", "us" or "our"; in these Terms and Conditions we are referring to Wahed Invest Ltd and any of our affiliates. When we use “you” or your”, we are referring to you, the user accessing this Website or app.

You will be bound by those Terms and Conditions where you are an individual accessing a page of the Website, whether via the homepage or not. Where you are accessing the Website or app in the course of employment you act as your employer’s agent; your acceptance of these Terms and Conditions is deemed acceptance by your employer of these Terms and Conditions and any reference to “you” shall be deemed to include your employer.

We may modify these Terms and Conditions from time to time, and such modifications shall be effective immediately upon posting on the Website or the app. You should check these Terms and Conditions periodically so that you are aware of such modifications, as your continued access or use of the Website will demonstrate your acceptance of the Terms and Conditions as modified. If you do not accept any modifications then do not access or use the Website or the app.

You will be able to access material on most areas of the Website without going through a registration process.

Statutory rights

Nothing in these Terms and Conditions will affect your statutory rights.

This website is owned and operated by Wahed Invest Ltd. All of the content featured or displayed on this website including, but not limited to, text, graphics, photographs, images, moving images, sound, illustrations and software ("Content") is owned by Wahed Invest Ltd. All elements of Wahed website and app including, but not limited to, the general design and the Content, are protected by copyright, moral rights, trademark and other laws relating to intellectual property rights. This website and app, its Content and all related rights shall remain the exclusive property of Wahed Invest Ltd. or its licensors unless otherwise expressly agreed. All material contained in this website, provided by Wahed Invest Ltd. is only intended for the lawful use by its customers, employees and members of the general public. The material may not be copied, republished, incorporated into another website or reproduced (whether by linking, framing or any other method), transmitted, distributed, uploaded, posted, used to create a derivative work or exploited in any other way without the written consent of Wahed Invest Ltd.

Access to the Website and Wahed app

We endeavour to make the Website and app available uninterrupted and fault free. However, we will not be liable if for any reason the Website or app is unavailable at any time or for any period. Access to the Website and app may be suspended temporarily and without notice in the case of system failure, maintenance or repair or for any other reason.

Your obligations

You must not violate any applicable national or international law in accessing or using the Website or app. You must not manipulate or otherwise display the Website by using framing or similar navigational technology. You may not link to the Website without our prior written consent. You are responsible for obtaining and maintaining all telephone, computer hardware, software and other equipment needed for access to and use of the Website and for meeting all costs associated with that equipment.

You are prohibited from uploading, posting or transmitting to or from the Website any material:

that is threatening, defamatory, obscene, indecent, seditious, offensive, pornographic, abusive, liable to incite racial hatred, discriminatory, menacing, scandalous, inflammatory, blasphemous, in breach of confidence, in breach of privacy or which may cause annoyance or inconvenience; or for which you have not obtained all necessary licences and/or approvals; or which constitutes or encourages conduct that would be considered a criminal offence, give rise to civil liability, or otherwise be contrary to the law; or that infringes our or any other third parties patent, trademark, trade secret, copyright or other proprietary rights, in the UK or any other country in the world; or which is technically harmful (including, without limitation, computer viruses, logic bombs, Trojan horses, worms, corrupted data or other malicious software or harmful data or code).

You may not misuse the Website or app (including, without limitation, by hacking). Please note that we shall aim to co-operate fully with any law enforcement authorities or court orders requesting or directing us to disclose the identity or locate anyone posting any material in breach of Section 12 or 13 above. You shall indemnify us, our affiliates, suppliers and employees from and against all losses, expenses, damages and costs (including legal fees) arising as a result of your breach of these Terms and Conditions, your negligence or otherwise as a result of your use of the Website.

Disclaimers

You assume responsibility and risk for your use of the Website and the Internet generally. It is solely your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise, advertising and other information provided on the Website, via a link or on the Internet generally.

You acknowledge that nothing on the Website has been tailored for your particular requirements. We recommend that you always consult an appropriate professional advisor before relying on personal, legal or financial advice provided on the Website. Nothing on the Website or app constitutes the offering of investment advice.

While we have taken all reasonable steps to ensure the accuracy and completeness of the content of the website, we exclude any warranties, undertakings or representations (either express or implied) to the full extent permitted under applicable law, that the website or (including without limitation) all or any part of the content or materials, accuracy, availability or completeness of the content of the website or any part of the content or materials, are appropriate or available for use either in the United Kingdom or in other jurisdictions. If you use this website from other jurisdictions, you are responsible for compliance with applicable local laws.

We may make changes to the material on the Website and app, or to the products and services described in it, at any time without notice. The material on the Website or app may be out of date, and we make no commitment to update such material.

Any opinions, advice, statements, offers, advertising, products or other information expressed or made available by third parties on the Website, or via a link, are those of the third party concerned. We neither endorse nor are responsible for the accuracy or reliability of any third party material.

Some of the information on the Website or app may contain projections or other forward-looking statements regarding future events or our future financial performance. You acknowledge that these statements are only predictions and that the actual events or results may differ materially.

We do not guarantee or warrant those files available for downloading through the Website or app will be free of infection or viruses, worms, Trojan horses or other code that manifest contaminating or destructive properties. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for accuracy of data input and output, and for maintaining a means external to the Website for the reconstruction of any lost data.

We accept full liability to you for:

death or personal injury caused by our negligence; or

any fraud we commit; or

any other liability which cannot be excluded or limited under applicable law.

Nothing in these Terms and Conditions will exclude or limit that liability.

Other than any liability to you under section 24 above, we accept no liability however caused (to the maximum extent permitted by applicable law) arising out of the use of or access to this website or app (which includes without limitation) any errors or omissions contained in this website or if the website or app is unavailable and we shall not be liable, direct or indirect, for:

any business loss including loss of revenue, profits or anticipated savings (whether those losses are the direct or indirect result of our default);

loss of goodwill or reputation; or

economic losses (including without limitation loss of revenues, data, profits, contracts, use, opportunity, business or anticipated savings);

any loss which was not reasonably foreseeable to us when you accessed or used the Website (even if it results from our failure to comply with these Terms and Conditions or our negligence);

any other loss or damage whatsoever which you suffer (even if it results from our failure to comply with these Terms and Conditions or our negligence and even if it was foreseeable to you and us when you accessed or used the Website); arising in connection with your use or inability to use the Website; or any information, or transactions provided on the Website or app, via a link, or downloaded from the Website or any delay in the provision of such information or service.

Links

You may use the Website or app to link to third party websites. If you use any link, you leave the Website or app. Your use of any third party website will be subject to that third party’s terms and conditions. We do not monitor the content of third party web sites and any links provided are for your convenience only.

Information you provide

We respect and are committed to protecting your privacy. Our Privacy Policy informs you how your personal information is processed and used. We will use our reasonable endeavours to take steps to use your personal information only in ways that are compatible with the Privacy Policy. Other than your personal information, which is covered by the Privacy Policy, any material you transmit or post to the Website shall be considered non-confidential and non-proprietary. We shall have no obligations with respect to such material. We and our designers shall be free to copy, disclose, distribute, incorporate and otherwise use such material and all data, images, sounds, text and other things for any and all commercial or non-commercial purposes.

Governing law

These Terms and Conditions shall be governed by, and construed in accordance with, the laws of England. Any court proceedings must be brought in the English courts.

Assignment

These Terms and Conditions are personal to you. You shall not assign or transfer to anyone any of your rights or obligations under these Terms and Conditions without our prior written consent. Nothing in these Terms and Conditions shall be deemed to grant any rights or benefits to any person other than you or us.

Waiver

Any waiver by either you or us of any right under these Terms and Conditions will be confined to the circumstance in which it is given. It shall not affect the subsequent enforcement of the same right or the enforcement of any other right.

Severability

If any part of these Terms and Conditions is for any reason found by a court or any other authority of competent jurisdiction to be void or otherwise unenforceable, that part shall be deemed omitted from these Terms and Conditions. The remainder of these Terms and Conditions shall remain in full force and effect to the maximum extent permitted by law.

Entire agreement

These Terms and Conditions contain all our commitments and constitute the entire agreement between you and us in relation to your use of the Website or app. No other statement we make, including statements in any brochure or promotional literature published by us, may be incorporated into this agreement or have any legal effect.

Registration Information

In order to avail our services, you will be required to create an account and select a user name and password. You may be asked to provide some personal information as well. You agree at all times that all the information you provided to us is accurate and complete, and you will obliged to regularly update this information as and when required. You agree to not impersonate any other individual or entity, misrepresent affiliation with any person/entity, or hide any required information from Wahed Invest Ltd. for any purpose. We agree to protect the information you provide to us, in accordance with our privacy policy. Failure to do so will constitute a breach of our terms and may lead to the termination of your account.

Service Communications and alerts

When you create an account with Wahed Invest, you automatically subscribe for various types of alerts. You can customize or deactivate such alerts by changing your account settings.

Termination/Access restriction

You and/or we may terminate these Terms and Conditions at any time, without prior notice, for any reason. All provisions of these Terms and Conditions which grant continuing rights or impose continuing obligations shall survive termination of these Terms and Conditions. We may, in our sole discretion, terminate your access to the Website, at any time, without notice.

Internet Communications

In order to maintain the security of its systems, protect its staff and detect fraud and other crimes, Wahed Invest Ltd reserves the right to monitor all internet communications, including web and email traffic, into and out of its domain. Monitoring includes (without limitation) checks for viruses and other malignant code, criminal activity, and use or content that is unauthorised or unlawful or material that may cause offence in any way.

Telephone Calls

Calls may be recorded for training and security purposes.

Regulatory Information

Wahed Invest Ltd. Registered in England and Wales (Company No. 10829012). Registered office: 87-89 Baker Street, London, W1U 6RJ is authorised and regulated by the Financial Conduct Authority Firm Reference number: 833225.

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Privacy Policy

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Introduction

This policy contains the Privacy statement. This policy applies to Wahed Invest Ltd (referred to as ‘Wahed’).

Privacy Statement (data collection and storage)

Wahed Invest understands that its use of your information requires your trust. Wahed Invest is committed to the highest standards of data privacy and will only use your information for clearly described purposes and in accordance with your data protection rights. This statement contains details of the data processing that will take place.

Data Controller and Data Processor

A Data Controller under GDPR is the entity that determines the purposes, conditions and means of the processing of personal data.
The Data Processor is the entity that processes data on behalf of the Data Controller. Wahed Invest and Maydan Capital Ltd as "WahedX" and "Wahed Ventures", is the data controller for your personal information. All other Third Parties act as data processors in respect of your personal information held by Wahed Invest Ltd. Wahed Invest Ltd is the controller and responsible for its website and app. We have appointed a data protection officer (DPO) who is responsible for overseeing questions in relation to this privacy policy. If you have any questions about this privacy policy, including any requests to exercise your legal rights (See ‘Rights to Erasure’ section), please contact us using the information set out in the contact details section (‘Contact us’ section).

What we collect

In order to create an account with Wahed Invest and Maydan Capital Ltd as "WahedX" and "Wahed Ventures", we need to collect some personal details , as well as other information.

How we collect your information:

We use different methods to collect data from and about you including through:
Your interactions with us: You may give us your personal data by filling in online forms or by corresponding with us by post, phone, email or otherwise. This includes personal data you provide when you :

apply for our products or services;
create an account on our website;
subscribe to our service or publications;

Wahed Invest Ltd Privacy Policy

request marketing to be sent to you;
enter a competition, promotion or survey; or
give us feedback or contact us.

Automated technologies or interactions.
As you interact with our website, we will automatically collect Technical Data about your equipment, browsing actions and patterns. We collect this personal data by using cookies [server logs] and other similar technologies. We may also receive Technical Data about you if you visit other websites employing our cookies. Please see our cookie policy for further details. Third parties or publicly available sources. We will receive personal data about you from various third parties [and public sources] as set out below:
Technical Data is collected from the following parties:

Amazon Web Services
AppsFlyer
Onfido
Google Analytics
Companies House
Wealthkernel
Plaid Inc

Information you give to us:

Name and address
Date of birth, nationality and national identifier/ national insurance number
Payment information
Bank account information & debit card
Risk questionnaire answers
Investment experience and sources of wealth
Gender
Health questions

We also collect, use and share aggregated data such as statistical or demographic data which is not personal data as it does not directly (or indirectly) reveal your identity. For example, we may aggregate individuals' Usage Data to calculate the percentage of users accessing a specific website feature in order to analyze general trends in how users are interacting with our website to help improve the website and our service offering.

Why we need to collect this information

Wahed Invest are required under General Data Protection Regulation 2016/679 to explain the
lawful basis of processing of your information.
We collect this information primarily to satisfy legal requirements and to enable us to provide the
services required under your contract with us.
GDPR Article 6 (1) Lawfulness of processing requires:

Wahed Invest Ltd Privacy Policy

Processing shall be lawful only if and to the extent that at least one of the following applies:

the data subject has given consent to the processing of his or her personal data for one or more specific purposes;
processing is necessary for the performance of a contract to which the data subject is party or in order to take steps at the request of the data subject prior to entering into a contract;
processing is necessary for compliance with a legal obligation to which the controller is subject;
processing is necessary in order to protect the vital interests of the data subject or of another natural person;
processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller;
processing is necessary for the purposes of the legitimate interests pursued by the controller or by a third party, except where such interests are overridden by the interests or fundamental rights and freedoms of the data subject which require protection of personal data, in particular where the data subject is a child.

The types of lawful basis we rely upon are:

Legal, for example verifying your identity or complying with regulatory obligations, such as MiFID II.
Contract and legitimate interest, for example your email address and telephone number to contact you.
Consent, for example implicit consent would be the collection of your payment information for an optional service and explicit consent is for marketing or health information (special category data). Vital interest, for example if the account holder passes away, we’re required to liaise and allow access to the next of kin. Where explicit consent is required we will seek this from you, for example Marketing preferences and Pension. In order for Wahed Invest to provide you with a Personal Pension, we’re required to gather some health information, this is a special category under GDPR and therefore requires explicit consent. However, in the vast majority of cases explicit consent is not required, and implicit consent is inferred to perform our responsibilities under the contract. Where explicit consent is required and not provided it may result in non-benefit of service, or the inability to open an account with Wahed Invest, Maydan Capital Ltd as "WahedX" and "Wahed Ventures" and iWaqf CT.

Wahed Invest Ltd Privacy Policy

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What we do with the information we gather

We require this information to understand your needs and provide you with a better service, and in particular for the following reason;

Performance of the contract
Verify your identity
To ensure the product and service is suitable
Internal record keeping and record retention for legal requirements
We may use the information to improve our products and services, by internal analysis of company data.
We will only use your information for the purpose it was collected.
Where explicit consent is given we will also use this information for marketing purposes
Correspondence regarding your account via email, telephone
Notify you of any changes to our service
Tracking of your activity on our website

Who We Share Your Information With

Personal data is processed by Wahed Invest and may also be shared with its subsidiaries and affiliates, including Maydan Capital Ltd as "WahedX", "Wahed Ventures" and iWaqf Charitable Trust ( “iWaqf CT”) based in the UK. Wahed Invest Ltd and iWaqf CT have a Data Sharing agreement in place which sets out the purpose of sharing specific data, covers what happens to the data at each stage and sets standards that help all the parties involved in sharing data to be clear about their roles and responsibilities. For the purposes of the contract we are required to share your information with third parties, the situations in which we share this information are detailed below.

Regulatory bodies or the police to comply with our legal obligations.
Fraud prevention agencies, and other organisations in order to detect and prevent financial and other crime.
Data, service and software providers to help improve and maintain our website
Suppliers, business partners and affiliates where necessary for the performance of the contract, including sub-contractors.
Third parties to whom we may choose to sell, transfer or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them.
If a change happens to our business, then the new owners may use your personal data in the same way as set out in this privacy policy.

If data is processed in countries outside the EU, Wahed Invest uses EU standard agreements, including suitable technical and organizational measures, to ensure that your personal data is processed in accordance with the European level of data privacy. If you want to access the actual protections for data transfer to other countries, please request a copy of this information by emailing uksupport@wahed.com

Wahed Invest Ltd Privacy Policy

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International Data Transfers

Your personal data will only be stored or transferred within the UK, EU or US using standard contractual clauses, or other safeguards that have been approved by the relevant regulatory body.

Your rights Subject Access Requests

You’re entitled under the GDPR Article 15 ‘right of access’ to request the personal data that Wahed Invest holds on you. You can request a copy of this information by emailing uksupport@wahed.com If you believe that any information we are holding on you is incorrect or incomplete, please write to or email us as soon as possible, at the above address. We will promptly correct any information found to be incorrect.

The Right to Erasure

You’re entitled under the GDPR Article 17 ‘right to erasure’ to request the deletion of personal data that Wahed Invest and our third parties hold on you. You can request this by emailing uksupport@wahed.com Please note, this does not affect any information required to be stored under record retention laws, more information on the retention period is set out below.

Retention Period

We will retain your personal data only for as long as necessary to fulfill the purposes outlined in this Policy or as required by law. Once Wahed has obtained your personal data, it will be maintained securely in Wahed's system for the period necessary to fulfill the purposes for which the data was collected (see above). Once a Registered User, you may terminate your membership of the App by contacting Wahed (uksupport@wahed.com).
Wahed may retain your personal data even after you have closed your account if retention is reasonably necessary to comply with our legal obligations, meet regulatory requirements, resolve disputes between users, prevent fraud and abuse, or enforce this Privacy Policy and other relevant terms. Once your personal data is no longer required, we will securely delete or anonymize it.

How to change your privacy preferences

You can change your preferences, or withdraw your consent in relation to how Wahed Invest uses your personal information in one of the following ways:
You are also able to request information about your data stored at Wahed Invest as well as request the correction, deletion or restriction of your personal data for analytics and/or marketing use.

By sending an email to uksupport@wahed.com
Or by writing to us at:

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Wahed Invest Ltd Privacy Policy

87-89 Baker Street,
London,
W1U 6RJ,
United Kingdom

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Under certain conditions you have the right to require us to:

Provide you with further detail on the use we make of your information
Provide you with a copy of your information
Update any inaccuracies in the information we hold about you
Delete any information about you that we no longer have a lawful ground to use
Remove you from any direct marketing lists when you object or withdraw your consent
Provide you with your personal information in a usable electronic format and transmit it to a third party (right to data portability)
Restrict our use of your personal information
Cease carrying out certain processing activities based on the legitimate interests ground unless our reasons for undertaking that processing outweigh any prejudice to your data protection rights.

Your exercise of these rights is subject to certain exemptions to safeguard the public interest e.g. the prevention or detection of crime (GDPR Article 6 (1) (e)). If you are dissatisfied with our use of your information or our response to any exercise of these rights you have the right to complain to your data protection authority, this in the UK is the Information Commissioner's Office https://ico.org.uk We would, however, appreciate the chance
to deal with your concerns before you approach the ICO so please contact us in the first instance.

Security

We are committed to ensuring that your information is safe and secure. In order to prevent unauthorized access or disclosure, we utilize physical, electronic and managerial procedures to safeguard and secure the information we collect. There is also a lot that you can do to help us keep your account safe. We recommend that you
take the following actions:
Do not disclose your login and password details with anyone and don't store them on your device(s). If you feel someone may know your login details or if you lose your device then contact us immediately to prevent unauthorized access to your account.
Access your account using the best security offered by your browser to maintain the security of your account, this for example would be incognito for Google Chrome and Private browser for Safari.
If possible, keep your device’s operating system updated with the latest security patches and upgrades. Older software may have security vulnerabilities that could expose you to additional risks. You may also want to consider using a reputable brand of anti-virus software.

Wahed Invest Ltd Privacy Policy

If We Contact You

When Wahed Invest contacts you we will never ask you to disclose your full security credentials. Be cautious about opening links contained in SMS messages or emails and beware of phishing scams. Phishing scams are attempts by scammers to trick you into giving out personal information such as your bank account numbers, passwords and credit card numbers. If you think your security details have been compromised then contact us immediately to prevent unauthorized access to your account.

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Changes to Our Privacy Policy

Any changes we may make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by email. Please check back frequently to see any updates or changes to our privacy policy. We keep our privacy policy under regular review. This version was last updated on 21st February 2024. Historic versions can be obtained by contacting us. It is important that the personal data we hold about you is accurate and current. Please keep us informed if your personal data changes during your relationship with us, for example a new address or email address.

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Third Party Links

This website may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements. When you leave our website, we encourage you to read the privacy policy of every website you visit.

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Contact Details

If you would like to contact us regarding our Privacy Policy, please contact us via:
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Email: uksupport@wahed.com
Telephone: +44 808 169 6662 (freephone customer service number)
Or visit us at:
87-89 Baker Street,
London,
W1U 6RJ,
United Kingdom

Cookie Policy

This website uses cookies

Wahed Invest Ltd uses cookies to help provide you with a better experience when visiting our Website. “Cookies” are pieces of data that are stored on your computer or mobile device when you visit a website. When you browse our Website again, the information from the cookies can be retrieved to help us understand how our Website is being used. By continuing to use our Website without changing the settings, you are agreeing to our use of cookies. For more information on our cookie policy, please read our Privacy Policy and Cookies Policy.

Cookie policy

Wahed Invest Ltd (we, us, or our) use cookies on our website https://wahed.com/ (the Website). This Cookie Policy provides more information about cookies and the purposes for which we use them.

What are Cookies?

A cookie is a small text file that's stored on your computer, tablet or phone when you visit a website.

Some cookies are deleted when you close down your browser. These are known as session cookies. Others remain on your device until they expire or you delete them from your cache. These are known as persistent cookies and enable us to remember things about you as a returning visitor.

To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit www.allaboutcookies.org. Alternatively, you can search the internet for other independent information on cookies.

How we use Cookies

We use cookies (and other similar technologies) to:

Enable security services to prevent DDOS attacks and other cyber security threats;

Ensure your security and privacy when in our secure sites;

Collect statistical data about our users' browsing actions and patterns;

Provide products and services that you request and to provide a secure online environment;

Manage our marketing relationships;

Store login details for our secure sites;

Give you a better online experience and track website performance; and

Help us make our website more relevant to you.

The cookies used by this Website will not contain any personal identifiable information about you.

We use cookies to do lots of different jobs, like letting you navigate between pages efficiently, remembering your preferences and generally improving your browsing experience. When you visit our website from any device (mobile, tablet or PC), we collect information about your use of this site, such as information about the device or browser you use to access the site (including device type, operating system, screen resolution etc.), the way you interact with this site, and the IP address your device connects from. You can block or remove cookies at any time by activating the setting on your browser that allows you to refuse and/or remove all or some cookies. However, if you change your browser settings to block or remove all cookies (including essential cookies) you may not be able to access all or parts of the Website and we may not be able to identify you as a user of the Website.

Cookies in emails

In addition to the cookies we use on this website, we also use cookies in some emails and push notifications. These help us to understand whether you have opened the email and how you have interacted with it.

Social media and targeting

On some pages, we also feature embedded 'Share' buttons or widgets that enable you to share content through a number of popular social networking sites, such as Facebook and Twitter.

These third party sites set their own cookies. We do not control these cookies and you should check the relevant third-party website to see how your information is used and how to opt out.

Cookie categories

Cookies can be put into 1 of 4 categories, based on the International Chamber of Commerce guide to cookie categories: Strictly Necessary, Performance, Functionality & Profile and Targeting.

Strictly Necessary Cookies These cookies are essential, as they ensure your security as well as enabling you to move around a website and use its features. Without these cookies, services you've asked for (such as access to secure areas) can't be provided. These cookies don't gather information about you that could be used for marketing or remembering where you've been on the internet.

Performance Cookies The information collected by these cookies is anonymous and is only used to improve how the website works and to help us to identify issues you may have when using our online services. In limited cases for online banking issues, these cookies enable us to identify specific issues you may have had. These cookies are not used to target you with online advertising. Without these cookies we can't learn how our website is performing and make relevant improvements that could better your browsing experience.

Functionality & Profile Cookies These cookies allow a website to remember choices you make and tailor the website to provide enhanced features and content for you. These cookies may be used to ensure that all our services and communications are relevant to you. The information these cookies collect cannot track your browsing activity on other websites. Without these cookies, a website cannot remember choices you've previously made or personalise your browsing experience.

Targeting Cookies

These cookies and similar technologies gather information about your browsing habits. They remember that you've visited a website and share this information with other organisations, such as advertisers and platforms on which we advertise. They do this to provide you with ads that are more relevant to you and your interests. Although these cookies and similar technologies can track your visits to other websites, they don't usually know who you are

Advertising cookies

You can choose to turn off advertising cookies only, by blocking specific companies. You'll still receive advertising on the internet, but the adverts you see may not be tailored to your likely interests or preferences.

Changes to Our Cookie Policy

This Cookie Policy may be updated from time to time so we recommend that you check it each time you visit our Website. The date of the most recent revisions will appear on this page.

The Chief Compliance Officer Wahed Invest Ltd 87-89 Baker Street, London, W1U 6RJ. Email: uksupport@wahedinvest.com

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UK Referral Bonus Program 1.4 Disclosures

User sending the invite - Referral Disclosure:

Wahed Invest Ltd (“Wahed”) referral bonus program terms and conditions (“Terms and Conditions”):

Subject to these Terms and Conditions as a customer you and your referee will be eligible to participate in the referral bonus program (the “Promotion”). This Promotion is open to residents of the UK only.

This Promotion is valid only for new, individual accounts with Wahed. Please send invites only to individuals who you know personally and who will be glad to receive them. Wahed will send one formal invitation email and up to two reminders to each individual you refer including disclosure that you have recommended them to become a new Wahed client. To qualify for the Promotion, you must have a Wahed General Investment Account (bonuses will not be paid into an ISA Account). In addition, referred individuals must open a Wahed General Investment Account using their designated referral code from your invitation, fund the account with at least £100 within 30 days of receiving the invitation, and maintain a minimum portfolio value of £100 for at least 3 full calendar months from the date such account is opened (a “Qualifying New Account”).

Your efforts in soliciting clients on behalf of Wahed must be limited to invitations made to individuals known personally to you by electronically sending such individuals a referral invitation via the Wahed digital platform. For each Qualifying New Account, Wahed will deposit £10 of bonus funds into your Wahed General Investment Account, and Wahed will also deposit £10 of bonus funds into your referee's Qualifying New Account. To avoid forfeiture of the Promotion, the referee’s Qualifying New Account must maintain a minimum portfolio value of £100 for at least 3 full calendar months from the date such account is opened.

Wahed is not responsible for incorrect entry or other failure on the part of your referee in creating a Qualifying New Account or complying with any other requirement for Wahed account holders. This Promotion is not valid with any other offers and is non-transferrable. This Promotion may not be combined with other referral programs offered by Wahed.

Wahed reserves the right to:

change or terminate this offer at any time, without notice;
limit the amount of account bonuses you are eligible to receive;
refuse or recover any award if it determines that it was obtained under fraudulent circumstances, that inaccurate or incomplete information was provided by you or your referee, or that any terms of the Wahed Client Investment Agreement have been violated;
modify or amend these Terms and Conditions at any time and without notice;
audit all offers to ensure that the Terms and Conditions of the Promotion have been met and to request additional information regarding any and all claims and supporting documents; and
make decisions in respect of all aspects of the Promotion which will be final and binding.

This Promotion and any claim arising out of or in connection with this Promotion (including non-contractual disputes and claims) will be: (a) governed by English law; and (b) subject to the non-exclusive jurisdiction of the courts of England and Wales.

The Promotion is made by Wahed Invest Ltd, 87-89 Baker Street, London, England, W1U 6RJ, United Kingdom.

By participating in the Promotion you agree that your participation will comply with these Terms and Conditions. If at any time you no longer comply with these Terms and Conditions, you agree to immediately inform Wahed at uksupport@wahedinvest.com.

Furthermore, you hereby agree that Wahed will have no liability for any cost, expenses or damages caused by your participation in the Promotion and that you will indemnify and hold Wahed harmless against any claim, action, liability, loss, injury, or damage to you or any other person or entity due in whole or in part, directly or indirectly, by reason of your participation in the Promotion. Wahed is not responsible for faulty referral links, any error, omission, interruption, defect or delay in transmission, order processing, or communication; technical or mechanical malfunctions; errors in these terms, in any human-processing error; failures of electronic equipment, computer hardware or software; damage to your equipment, computer hardware or software, or inaccurate information, whether caused by equipment, programming, human error, or otherwise.

User receiving the invite - Referee Disclosure:

This offer is valid only for new individual accounts with Wahed Invest Ltd (“Wahed”). The referrer who sent you this invitation is a Wahed client and has done so through Wahed’s referral bonus program. This invitation does not constitute an endorsement of Wahed or a statement of satisfaction with the services provided by Wahed. If you meet the qualification criteria set out below, Wahed will deposit £10 of bonus funds into your Wahed account and £10 of bonus funds into the referrer’s Wahed account.

In order for you to qualify for the referral bonus program, you must: (1) open a new individual Wahed General Investment Account using the designated referral code contained in this invitation (2) fund the account with at least £100 within 30 days of receiving the invite and (3) and maintain a minimum portfolio value of £100 for at least 3 full calendar months from the date your account is opened. Wahed is not responsible for incorrect entry or other failure on your part to meet the qualifying requirements for the promotional account bonus. This promotion is not valid with any other offers and is non-transferrable. Wahed reserves the right to terminate this offer at any time and to refuse or recover any promotional account bonus if Wahed determines that it was obtained under fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of the Wahed Client Investment Agreement have been violated.

You may view the Wahed Client Investment Agreement at Click here

22nd November 2023

Our Complaints Management Process.

At Wahed Invest Ltd (“Wahed”), we are committed to maintaining a high standard of service.
Whatever the issue is, we will do our best to address complaints promptly and fairly. To assist with this process we have prepared procedures to ensure that complaints are handled fairly and within reasonable timescales.

What is a complaint?

Wahed defines a complaint using the definition contained in the FCA glossary, namely: -

“Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service or a redress determination, which:

(a) alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience; and
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(b) relates to an activity of that firm, or of any other firm with whom that firm has some connection in marketing or providing financial services or products, which comes under the jurisdiction of the Financial Ombudsman Service.”

How to submit a complaint?

We welcome any and all feedback on our products and services. In the unlikely event that you feel dissatisfied with any of our products and services, or you feel that our service has not met your expectations, you can submit a formal complaint to our Customer support unit by:

Email: uksupport@wahed.com
Telephone +44 808 169 6662
By writing to us: 87-89 Baker Street, London, W1U 6RJ, UK

What is the complaint process?

At Wahed, any staff member can receive a client complaint and has the responsibility to do everything within their authority in conjunction with the Compliance department to resolve the issue at the first point of contact.

In order to help us respond as quickly as possible, a complaint sent by the client shall include:

the client’s full name;
the clients account number;
the date on which the issue occurred; and
a clear and logical description of the issue.

Our Compliance department operates independently and will carry out an impartial evaluation of your case, contacting you for more information if necessary. They will endeavour to determine what failed to happen and assess whether we have acted properly and in accordance with our rights and obligations. They may also determine whether any compensation is due.

What is the investigation process?

On receipt of your complaint our Compliance department will acknowledge your complaint and, where required, will commence an investigation. Where the complaint is resolved within 3 business days of its receipt, we will send you a Summary Resolution Communication (as defined under the FCA rule DISP 1.5.4) explaining how the complaint has been resolved and providing information on your rights to refer the matter to the Financial Ombudsman Service (“FOS”) if you remain dissatisfied.

If it will take longer to resolve your complaint, we will provide you with an acknowledgement letter within 5 business days of receipt of your complaint. We will keep you informed of progress and may ask you to provide further information to assist us in the investigation of the complaint.

Although regulation allows us up to 8 weeks to deal with a complaint, we will make every effort to provide our clients with a fair outcome.

Final response

If after a period of 8 weeks, our Compliance department has not completed its investigation and provided a final response, we must either:

provide a final written response, which:
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- accepts the complaint, and where applicable, offers redress or remedial action; or
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- offers redress or remedial action without accepting the complaint; or
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- rejects the complaint and gives our reasons for doing so.
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- indicates whether or not we consent to waive the relevant time limits;
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- informs the complainant that he or she may refer the complaint to the FOS if dissatisfied and,
  if so, do so within 6 months of the date of our final response.
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provide a final written response, which:
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- explains why we are unable to give a final response and provide an estimate as to when we expect to be able to do so;
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- informs the complainant that he or she may now refer the complaint to the FOS;
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- indicates whether or not we consent to waive the relevant time limits;
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- encloses a copy of the FOS standard explanatory leaflet; and
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- provide the website address of the FOS.

We will consider a complaint closed when we have made our final response to you. This does not prevent you from exercising any rights you may have to refer the matter to the FOS. You can contact the FOS on the details provided below:

Financial Ombudsman Service
Exchange Tower
London
United Kingdom
E14 9SR
Phone: 0800 023 4567

Email: complaint.info@financial-ombudsman.org.uk
Web: http://www.financial-ombudsman.org.uk

Retaining complaint records for the FCA

The FCA rule DISP 1.9.1 indicates a firm must keep a record of each complaint for a minimum period of 3 years from the date the complaint was received.
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The FCA rule DISP 1.10.1 indicates a complete report concerning complaints received from eligible person (as defined under the FCA rule DISP 2.7) must be made to the FCA twice a year.

This report specifies the total number of complaints received by the firm which were not settled by the close of the third business day after the receipt of the complaint in accordance with the FCA rule DISP 1.5.4.

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Section 1: Wahed Invest Ltd

Wahed Invest does not provide regulated advice

What is Wahed’s discretion when managing your investments?

Ongoing Suitability

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Wahed FTSE USA Shariah ETP

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Non-UK and UK residents

Minimum deposit to open an account

Fees

Anti-Money Laundering

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Communication by someone not signed up to these Terms

When may we not act on your instructions?

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Client Protection

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Complaints

Who regulates us?

What are the specific risks of the products you are investing in?

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Data Protection

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