Priya PatelTLDR:
- Hugosave is now Shariah-compliant, empowering the Muslim community in Singapore.
- The certification assures Muslim clients that the financial tools are aligned with their faith.
Singapore-based Wealthcare® and savings app Hugosave has received certification as Shariah-compliant, in collaboration with Islamic Finance Singapore, Ustaz Kamal Mokhtar, S Tradition Pte Ltd, and Masryef Sdn Bhd. This certification ensures that Hugosave’s offerings align with Islamic principles, providing the Muslim community access to financial tools and investment opportunities that meet their values and beliefs.
The endorsement comes at a time when the demand for Shariah-compliant financial solutions is growing, with assets in Islamic finance projected to rise significantly in the coming years. Hugosave offers various Shariah-compliant products, including savings accounts, a Visa Platinum Debit Card, money pots for savings goals, precious metals investing, a trust service, and a rewards center.
By adhering to Shariah standards, Hugosave aims to simplify financial offerings for Muslims in Singapore and provide them with worry-free solutions for managing their finances, saving, and investing in a way that aligns with their faith. This move not only sets a new standard for innovation in the financial industry but also promotes inclusivity and ethical finance within the community.
