Shoraka Group was originally established in Dubai, UAE, in July 2006 pioneering with Shoraka Advisory Services (SAS). SAS is an investment advisory firm, licensed by Dubai Economic Department under the Ministry of Finance. The business focus is to advise Middle East investors who are keen to invest in Malaysia and South-East Asia. The business expanded to investment management and private equity in 2008 by acquiring WSQ Investment Management Ltd, based in London, a private university, IT Company and more.
The Group has grown tremendously since its inception bringing a wide variety of experience that includes investment management, treasury, banking, Islamic finance, investment banking, stock-broking and consultancy.
In mid 2023, the Group went into a restructuring where it was decided that only financial technology (Fintech) business would remain under Shoraka Group while other non fintech businesses would be taken out from the Group. With the restructuring, the Group would focus only on financial technology business and led by a team of co-founders of each financial business unit.
Datuk Hasnul and Wan being the original founders would exit the Group to focus on the private equity business looking at non-financial opportunities including construction and other development.