Junaid Wahedna on IPO
From How A Taxi Conversation Created Wahed | In The Studio · · BFM899
“We want the Muslim Community themselves to own Wahed, and the cleanest and probably the only legal way to do that is to IPO.”
On , Junaid Wahedna, CEO & Founder at Wahed, spoke about IPO during How A Taxi Conversation Created Wahed | In The Studio on BFM899.
About Junaid Wahedna
Junaid Wahedna, founder and CEO of Wahed, discussed the company's opening of its first global branch on Baker Street in London. He stated that the physical location was intended to build trust and credibility with clients amid market volatility, noting that it is unusual for a fintech to open a branch. Wahedna described the company's origin as a response to the challenge faced by Muslims who, for religious reasons, seek to avoid interest-based financial products. Wahedna also spoke about the challenges of founding a regulated financial institution, citing the need for significant initial capital for licensing, compliance, and infrastructure. He noted that raising sufficient capital remains a major barrier to entry, particularly given the current environment of higher capital costs.