Baraka and Sarwa are often put side by side, but they do different jobs. Baraka is an app where you pick your own US stocks and ETFs. Sarwa runs automated portfolios for you, and also has a trading product and a savings product. This page compares them on the things that decide the choice: who regulates them, what they publish about fees, how each handles halal investing, and who each one suits. Everything below comes from the two companies’ own pages unless stated, and where a figure could not be confirmed we say so.
| Factor | Baraka | Sarwa |
|---|---|---|
| What it is | Self-directed app for US stocks and ETFs | Robo-advisor (Invest), trading (Trade) and a cash product (Save) |
| Regulated entity | Baraka Financial Limited, registered in the DIFC | Sarwa Digital Wealth (Capital) Limited, in ADGM |
| Regulator | DFSA (Dubai) | FSRA (Abu Dhabi) |
| Licence | Category 3C, with Retail Client and Holding and Controlling Client Assets endorsements | Category 3C, with a Retail Client endorsement |
| Islamic set-up | DFSA Islamic Window endorsement; Shariah Supervisory Board | Halal portfolio offered; no FSRA Islamic Window endorsement |
| Published fees | Check current plans in the app | Invest: 0.4% to 0.85% a year or $7 a month. Trade: $1 per trade or 0.25% of the order. Save: 0.5% a year |
| Published minimum | Fractional shares; check the app for the current minimum | $500 for Trade; $500 for the Halal and Conventional portfolios |
Sources: Baraka’s disclosure on its learning pages; Sarwa’s pricing page, help centre and footer disclosures. Verified October 2026.
Baraka says Baraka Financial Limited is regulated by the Dubai Financial Services Authority and holds a Category 3C licence with a Retail Client endorsement and a Holding and Controlling Client Assets endorsement. Sarwa says Sarwa Digital Wealth (Capital) Limited is regulated by the Financial Services Regulatory Authority in Abu Dhabi Global Market, with a Category 3C licence and a Retail Client endorsement, and that Sarwa is not a bank.
So both are regulated in a financial free zone, but by different regulators. A licence does not protect you from market losses. Before you fund either account, look up the firm on the DFSA or FSRA public register and ask each company what protection applies to your holdings. We could not confirm from either company’s own pages whether an investor-compensation scheme covers UAE clients, so do not assume one does.
This is where the two differ most. Baraka says it holds a DFSA Islamic Window endorsement and serves eligible clients under the oversight of its Shariah Supervisory Board. Its screening data comes from a third party, is provided for reference, applies to individual equities and ETFs only (not bonds or options), and is not a fatwa or personal religious advice.
Sarwa offers a Halal portfolio with a $500 minimum, built from BlackRock iShares Islamic ETFs and the Franklin Global Sukuk Fund. But Sarwa states that it does not hold an Islamic Window endorsement from the FSRA, and its help page tells clients to seek independent advice on Islamic principles. If a formal Islamic regulatory set-up matters to you, that difference is worth weighing. If you are comfortable relying on the underlying Islamic ETFs, Sarwa’s portfolio is a simple route.
Sarwa lists its prices openly. Sarwa Invest shows “0.4% to 0.85% annual fee” or “$7.00 / mo”, and the page does not say which applies to which account, so confirm in the app which one you would pay. Sarwa Trade lists “$1 per trade” or “0.25% of the order amount”, with no spread charged on stocks and ETFs. Sarwa Save lists a 0.5% annual fee.
To see how the Invest options compare, here is the yearly cost on two balances, assuming each option applied:
| Balance | 0.4% a year | 0.85% a year | $7 a month |
|---|---|---|---|
| $10,000 | $40 | $85 | $84 |
| $50,000 | $200 | $425 | $84 |
Fund costs inside the ETFs are charged on top of these fees, so the full cost is higher than the headline number. For Baraka, commission-free trading was its launch pitch, but we could not open a current pricing page, so check the plans and any per-trade charge in the app before you start. Do not compare the two on headline fees alone, because Baraka is a trading tool and Sarwa Invest is a managed service.
| If you… | Lean towards |
|---|---|
| Want to pick your own US stocks and ETFs | Baraka |
| Want a portfolio that is built and rebalanced for you | Sarwa Invest |
| Want a formal Islamic regulatory set-up for stock screening | Baraka |
| Want a halal portfolio you do not have to manage | Sarwa’s Halal portfolio (read the disclaimer first) |
| Want to park cash and earn on it | Sarwa Save (0.5% annual fee listed) |
| Will not check your investments regularly | Sarwa Invest |
| Like researching companies yourself | Baraka |
For a closer look at each, see our Baraka review and Sarwa review. Living in the UAE and comparing other money products? Our best credit cards in the UAE and how to save money in the UAE guides may help.
Is Baraka or Sarwa better?
Neither is better for everyone. Baraka suits people who want to choose their own US stocks and ETFs. Sarwa suits people who want a managed portfolio.
Are Baraka and Sarwa regulated?
Yes. Baraka Financial Limited says it is regulated by the DFSA, and Sarwa Digital Wealth (Capital) Limited says it is regulated by the FSRA in ADGM. Check each on its regulator’s public register.
Which is better for halal investing?
Baraka says it holds a DFSA Islamic Window endorsement and has a Shariah Supervisory Board. Sarwa offers a Halal portfolio but says it holds no FSRA Islamic Window endorsement. Neither replaces your own advice on Islamic principles.
Can I use both apps?
Yes. Some investors keep a core portfolio with Sarwa and a smaller self-directed allocation with Baraka.
Sources: Sarwa pricing and disclosures, Sarwa portfolio help page, Baraka disclosure. Verified October 2026. Fees, minimums and licences change, so confirm with each company. This is general information, not financial advice.
