In a landmark improvement for Islamic finance and digital banking, ruya (رويا), the UAE’s digital-first Islamic financial institution, has turn out to be the primary Islamic financial institution globally to supply clients direct entry to digital asset investments, together with Bitcoin, by means of its cell app, in line with an announcement.
The brand new service is made potential by means of a strategic partnership with Fuze, a licensed chief in digital asset infrastructure. Together, ruya and Fuze goal to supply a safe and moral entry level into the digital financial system, with companies which can be totally Shari’ah-compliant and aligned with the rules of Islamic finance.
“At ruya, we are committed to transforming the financial landscape in the UAE by offering forward-thinking services while staying true to our mission of ethical Islamic banking,” mentioned Christoph Koster, CEO of ruya. “By integrating virtual assets into our investment platform, we aim to empower our customers to participate in the digital economy sustainably and responsibly. We can also assure our customers that the virtual assets we are offering on our ruya investment platform are Shari’ah-compliant, providing much-needed certainty.”
The launch comes at a time of fast progress within the UAE’s digital asset sector. Within the yr ending June 2024, the nation obtained greater than $30 billion in digital belongings, marking a 42% year-on-year improve, considerably outpacing the regional common of 11.7%, in line with the announcement. The transfer underscores the UAE’s emergence as a significant hub for digital finance within the MENA area.
“Partnering with ruya is a big step towards making virtual assets a seamless part of everyday banking,” mentioned Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze. “Together, we’re combining Fuze’s cutting-edge infrastructure with ruya’s commitment to ethical Islamic banking.”
Not like different platforms that encourage speculative crypto buying and selling, ruya’s providing is embedded inside a curated funding framework designed to help long-term monetary progress, the corporate acknowledged within the announcement. It can give attention to transparency, equity, and moral investing—core tenets of Islamic finance.
To guarantee accessibility and knowledgeable decision-making, ruya can be providing help by means of group facilities and hybrid name facilities, the place clients can obtain skilled steerage on digital asset investing.
