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Aramco-backed fintech opens bank branch in London to help Muslims invest

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cnbc.com

An investing platform backed by the likes of oil giant Saudi Aramco and French soccer player Paul Pogba is launching a novel proposition in the U.K.: a physical branch and bank accounts backed by gold.

New York-based Wahed, which describes itself as a «halal investing platform,» has opened a branch in the U.K. in a bid to target the country's 3.9 million Muslims with a sharia-compliant investment management and advice service.

The glossy retail location has a similar design to an Apple store, with digital displays inside and a bright sign displaying its logo outside.

It is located on Baker Street in central London, just opposite a branch of U.K. banking giant HSBC. Khabib Nurmagomedov, the Russian former professional mixed martial artist, is a promoter of the firm and will be among those attending the branch opening Tuesday.

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