Wahed has collaborated with the Bank of Palestine and Intersect Innovation Hub to raise a $5 million fund dedicated to investing in start-ups in Palestine, with 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 per cent of investment fee (2.5 per cent of the investment) towards 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 of delivering more where most needed from the generous pledge they are making towards our ongoing Palestine campaign.
This collaboration supports initiatives that uplift Palestinians out of poverty and helps them to create their own wealth that has the potential to last for generations to come.
“By partnering with Wahed, we are simply expanding our capacity of delivering more where most needed from the generous pledge they are making towards our ongoing Palestine campaign”, says Yusuf Kalam, Muslim Aid’s Philanthropy and 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.
