Wahed has collaborated with the Bank of Palestine and Intersect Innovation Hub to raise a $5 million fund dedicated to investing in startups in Palestine and Muslim Aid as the official charity partner.
The fund aims to invest in 25 – 30 of the top Tech Startups based in Gaza and the West Bank, with Wahed pledging to donate 100% of the investment fee (2.5% of the investment) to Muslim Aid’s vital projects in Palestine.
This, however, does not mean Muslim Aid is venturing into investments with donor money. By partnering with Wahed, we will receive Wahed’s investment fees as their donations to the charity.
We are simply expanding our capacity to deliver more where it is most needed, based on their generous pledge to our ongoing Palestine campaign.
This collaboration supports initiatives that lift Palestinians out of poverty and help them create wealth that has the potential to last for generations to come.
“By partnering with Wahed, we are simply expanding our capacity to deliver more where most needed from the generous pledge they are making towards our ongoing Palestine campaign,” says Yusuf Kalam, Muslim Aid’s Philanthropy & Partnerships Manager.
“We are also satisfied with their Islamic values-driven approach and therefore welcome this collaboration and support all initiatives that uplift Palestinians out of poverty – especially at this crucial time”, he added.
