In a landmark growth for Islamic finance and digital banking, ruya (رويا), the UAE’s digital-first Islamic financial institution, has develop into the primary Islamic financial institution globally to supply prospects direct entry to digital asset investments, together with Bitcoin, via its cellular app, in response to an announcement.
The brand new service is made attainable via a strategic partnership with Fuze, a licensed chief in digital asset infrastructure. Collectively, ruya and Fuze intention to offer a safe and moral entry level into the digital economic system, with companies which can be absolutely Shari’ah-compliant and aligned with the rules of Islamic finance.
“At ruya, we’re dedicated to remodeling the monetary panorama within the UAE by providing forward-thinking companies whereas staying true to our mission of moral Islamic banking,” mentioned Christoph Koster, CEO of ruya. “By integrating digital belongings into our funding platform, we intention to empower our prospects to take part within the digital economic system sustainably and responsibly. We are able to additionally guarantee our prospects that the digital belongings we’re providing on our ruya funding platform are Shari’ah-compliant, offering 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 acquired greater than $30 billion in digital belongings, marking a 42% year-on-year enhance, considerably outpacing the regional common of 11.7%, in response to the announcement. The transfer underscores the UAE’s emergence as a significant hub for digital finance within the MENA area.
“Partnering with ruya is an enormous step in direction of making digital belongings a seamless a part of on a regular basis banking,” mentioned Mohammed Ali Yusuf (Mo Ali Yusuf), Co-Founder and CEO of Fuze. “Collectively, we’re combining Fuze’s cutting-edge infrastructure with ruya’s dedication to moral Islamic banking.”
In contrast to 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 should concentrate on transparency, equity, and moral investing—core tenets of Islamic finance.
To make sure accessibility and knowledgeable decision-making, ruya can be providing help via neighborhood facilities and hybrid name facilities, the place prospects can obtain knowledgeable steering on digital asset investing.
