Aghaz Investments, an Islamic financial institution based in the US, is currently targeting U.S.-based Muslim consumers, but will soon offer custom-values products for anyone wishing to invest based on their personal values like climate change or equal rights.
Aghaz Investments, a Seattle-based Robo-advisor aligned with the values of Islam, has deployed DriveWealth’s brokerage infrastructure platform to offer these values-based trading opportunities to its customers.
With ESG going through the roof, values-based investing has gained traction in the US and other European and Asian markets. While Islamic finance has been on the rise for the past three decades, the theme may experience a new pick-up from brokers across the world who increasingly see values-based investing as a fast emerging business opportunity.
In the case of Aghaz, customers input their financial goals and receive optimized portfolios that are aligned with their beliefs. This will automatically exclude ETFs that deal with alcohol. The firm will also add other Islamic parameters such as the percentage of debt on a firm’s balance sheet.
Aghaz will be using DriveWealth’s portfolio management system, Autopilot, to allow users to have customized portfolios based on goals, such as saving for Hajj or Umrah or buying a house or vehicle.
Bob Cortright, founder, and CEO of DriveWealth said: “Autopilot gives our partners the ability to customize the investing experience based on their customers’ investing goals and preferences and rebalance automatically. Aghaz Investments presents consumers with a unique opportunity to reach their financial goals in a way that is personal to them without compromising their core values.”
Khurram Agha, Founder, and CEO of Aghaz Investments commented: “At Aghaz, we are passionate about understanding Muslims’ relationship with money and enabling them to save for their financial goals according to their beliefs. DriveWealth provides a robust and comprehensive API platform that Aghaz leveraged to launch goal-based investment strategies for our customers securely and effectively.”
Aghaz is targeting U.S.-based Muslim consumers, but will soon offer custom-values products for anyone wishing to invest based on their personal values like climate change or equal rights.