Key Takeaways
- • Wahed MENA LLC, the Qatar-based entity of Islamic fintech and asset manager Wahed, signed a Memorandum of Understanding with the General Directorate of Endowments at the Ministry of Awqaf and Islamic Affairs to develop and pilot an AI-powered Shariah equity analysis and screening platform.
- • The platform will screen equities listed on the Qatar Stock Exchange (QSE) for Shariah compliance and is intended for Awqaf's internal investment assessment processes, not for public distribution.
- • Planned features include AI-driven equity screening, natural language processing, financial ratio analysis, dividend screening, historical Shariah compliance tracking, risk-based analysis, a bilingual Arabic-English interface, and an internal Shariah screening chatbot.
- • The project aligns with the Ministry's Strategic Plan (2025-2030) and Qatar National Vision 2030, focusing on digital transformation and governance in endowment investment management.
- • Wahed states the platform is intended to serve as a model for endowments, asset managers, sovereign entities and financial institutions integrating AI into Shariah-compliant investing. No financial terms of the MoU were disclosed.
Summary
Wahed, a New York-headquartered Islamic fintech and asset management company, announced that its Qatar-based subsidiary, Wahed MENA LLC, has signed a Memorandum of Understanding with the General Directorate of Endowments at the Ministry of Awqaf and Islamic Affairs. According to the company's press release distributed via PR Newswire UK, the partners will develop and pilot an artificial intelligence-powered Shariah equity analysis and screening platform tailored to Qatar's endowment sector.
The initiative combines Wahed's expertise in Islamic fintech and asset management with Awqaf's Shariah and investment oversight capabilities. Its stated objective is to create a more efficient approach to screening and analysing equities listed on the Qatar Stock Exchange for Shariah compliance. The platform will integrate AI-driven equity screening, natural language processing, financial indicator and ratio analysis, and a bilingual Arabic-English interface to support Awqaf's internal investment assessment. Features under development include dividend screening, historical Shariah compliance tracking, risk-based analysis and an AI-assisted screening support chatbot for internal use.
The project is positioned as supporting the Ministry's Strategic Plan (2025-2030), which prioritises digital transformation, artificial intelligence, institutional innovation, performance efficiency and sustainability, and as aligning with Qatar National Vision 2030. The partners expect the platform to improve the speed, consistency and scalability of investment analysis and to strengthen governance and transparency in endowment investment management.
Mohammed Abdullah Al Harmi, Director of the Investment Department at the General Directorate of Endowments, described the project as a crucial step for endowment work, saying it "ushers in a new era of endowment operations that combines Sharia authenticity with technological innovation." Khalid Al Jassim, Executive Chairman of Wahed MENA, said the partnership reflects a commitment to "putting technology in service of Islamic finance principles."
Wahed described the initiative as a significant step in applying AI within Islamic asset management, and said the completed platform would serve as a model for endowment institutions, asset managers, sovereign entities and financial organisations. The release does not disclose deal value, timeline for pilot completion, or the platform's commercial availability beyond Awqaf. Wahed reports more than 450,000 clients globally, licences in nine countries, and over $2 billion in assets under management and administration across its entities.
The initiative combines Wahed's expertise in Islamic fintech and asset management with Awqaf's Shariah and investment oversight capabilities. Its stated objective is to create a more efficient approach to screening and analysing equities listed on the Qatar Stock Exchange for Shariah compliance. The platform will integrate AI-driven equity screening, natural language processing, financial indicator and ratio analysis, and a bilingual Arabic-English interface to support Awqaf's internal investment assessment. Features under development include dividend screening, historical Shariah compliance tracking, risk-based analysis and an AI-assisted screening support chatbot for internal use.
The project is positioned as supporting the Ministry's Strategic Plan (2025-2030), which prioritises digital transformation, artificial intelligence, institutional innovation, performance efficiency and sustainability, and as aligning with Qatar National Vision 2030. The partners expect the platform to improve the speed, consistency and scalability of investment analysis and to strengthen governance and transparency in endowment investment management.
Mohammed Abdullah Al Harmi, Director of the Investment Department at the General Directorate of Endowments, described the project as a crucial step for endowment work, saying it "ushers in a new era of endowment operations that combines Sharia authenticity with technological innovation." Khalid Al Jassim, Executive Chairman of Wahed MENA, said the partnership reflects a commitment to "putting technology in service of Islamic finance principles."
Wahed described the initiative as a significant step in applying AI within Islamic asset management, and said the completed platform would serve as a model for endowment institutions, asset managers, sovereign entities and financial organisations. The release does not disclose deal value, timeline for pilot completion, or the platform's commercial availability beyond Awqaf. Wahed reports more than 450,000 clients globally, licences in nine countries, and over $2 billion in assets under management and administration across its entities.
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