Alpaca and ZAD Partner to Bring Shariah-Compliant Investing Globally

Alpaca, a U.S.-based self-clearing broker-dealer and brokerage API provider, has partnered with Kuwait’s ZAD investment platform to expand Shariah-compliant access to U.S. stocks, ETFs, and related financial products in Kuwait and other Gulf Cooperation Council markets, including Saudi Arabia. The firms are developing offerings such as instant funding, asset-backed margin trading intended to avoid interest-based lending, options trading, and high-yield cash accounts, with ZAD seeking to address growing regional demand for investments aligned with Islamic principles. The announcement cites forecasts that global Islamic finance assets could increase from more than $5.5 trillion in 2024 to $7.5 trillion by 2028, driven by markets including Saudi Arabia, Malaysia, Kuwait, and the UAE. Alpaca states that it is supporting ZAD through its Broker API but does not itself represent its products as Shariah-compliant, leaving customers responsible for determining whether offerings meet their own requirements; the release also notes the risks associated with options, fixed-income securities, extended-hours trading, and investing generally.

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