Islamic fintech Wahed Invest to buy UK digital banking app Niyah

Wahed Inc, a U.S.-based Islamic-finance fintech startup backed by Saudi Aramco, will acquire Niyah Ltd, a British company that runs a digital banking app designed for the Muslim community, Reuters reports.

Wahed hopes the acquisition will enable it to broaden its offering and eventually become a one-stop-shop for Islamic law-compliant digital financial products and services, it said.

The financial terms of the deal were not disclosed.

Read more: Reuters