Key Takeaways
- • Wahed MENA LLC, the Qatar-based entity of Islamic fintech 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 for Qatar's endowment sector.
- • The platform will screen and analyze equities listed on the Qatar Stock Exchange (QSE) for Shariah compliance, combining AI-driven screening, natural language processing, and financial ratio analysis.
- • Planned features include dividend screening, historical Shariah compliance tracking, risk-based analysis, and an internal AI-assisted Shariah screening chatbot, with a bilingual Arabic-English interface.
- • The initiative aligns with the Ministry's Strategic Plan (2025-2030) and Qatar National Vision 2030, and is intended to serve as a model for endowments, asset managers, and sovereign entities.
Summary
Wahed, a New York-headquartered Islamic fintech and asset manager, announced that its Qatar-based entity, Wahed MENA LLC, has signed a Memorandum of Understanding with the General Directorate of Endowments at the Ministry of Awqaf and Islamic Affairs. The MoU covers the development and pilot of an artificial intelligence-powered Shariah equity analysis and screening platform designed for the needs of Qatar's endowment sector, according to the company's PR Newswire release.
The initiative pairs Wahed's Islamic fintech and asset management expertise with Awqaf's Shariah and investment oversight capabilities. Its stated objective is to create a more efficient method for screening and analyzing equities listed on the Qatar Stock Exchange for Shariah compliance. The platform will combine AI-driven equity screening, natural language processing, and financial indicator and ratio analysis, with a bilingual Arabic-English interface supporting Awqaf's internal investment assessment processes.
Features under development include dividend screening, historical Shariah compliance tracking, risk-based analysis, and an AI-assisted Shariah screening support chatbot for internal use. The companies expect the platform to improve the speed, consistency and scalability of investment analysis and to strengthen governance and transparency in endowment investment management.
The project supports the Ministry's Strategic Plan (2025-2030), which prioritizes digital transformation, artificial intelligence, institutional innovation, performance efficiency and sustainability, and is aligned with Qatar National Vision 2030. Mohammed Abdullah Al Harmi, Director of the Investment Department at the General Directorate of Endowments, described the project as a crucial step in advancing 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 states it is licensed in nine countries, serves more than 450,000 clients globally, and manages more than $2 billion in assets under management and administration across its entities. The companies say that, upon completion, the platform will serve as a model for endowment institutions, asset managers, sovereign entities and financial organizations integrating AI into Shariah-compliant investment processes. The release does not disclose financial terms of the MoU or a timeline for pilot completion.
The initiative pairs Wahed's Islamic fintech and asset management expertise with Awqaf's Shariah and investment oversight capabilities. Its stated objective is to create a more efficient method for screening and analyzing equities listed on the Qatar Stock Exchange for Shariah compliance. The platform will combine AI-driven equity screening, natural language processing, and financial indicator and ratio analysis, with a bilingual Arabic-English interface supporting Awqaf's internal investment assessment processes.
Features under development include dividend screening, historical Shariah compliance tracking, risk-based analysis, and an AI-assisted Shariah screening support chatbot for internal use. The companies expect the platform to improve the speed, consistency and scalability of investment analysis and to strengthen governance and transparency in endowment investment management.
The project supports the Ministry's Strategic Plan (2025-2030), which prioritizes digital transformation, artificial intelligence, institutional innovation, performance efficiency and sustainability, and is aligned with Qatar National Vision 2030. Mohammed Abdullah Al Harmi, Director of the Investment Department at the General Directorate of Endowments, described the project as a crucial step in advancing 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 states it is licensed in nine countries, serves more than 450,000 clients globally, and manages more than $2 billion in assets under management and administration across its entities. The companies say that, upon completion, the platform will serve as a model for endowment institutions, asset managers, sovereign entities and financial organizations integrating AI into Shariah-compliant investment processes. The release does not disclose financial terms of the MoU or a timeline for pilot completion.
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