In a landmark development to Islamic Finance and Digital Banking Business, Ruya (را), Uae’s Digital First Islamic Bank, has become the first Islamic bank globally to give customers direct access to virtual activities, including Bitcoin, through its mobile app, according to a message.
The new service is made possible through a strategic partnership with FUZE, a licensed leader in virtual asset infrastructure. Together, Ruya and Fuze aim to provide a safe and ethical entry point in the digital economy with services that are fully Shari’ah-compatible and adapted to the principles of Islamic Finance.
“At Ruya, we are obliged to transform the economic landscape of the UAE by offering forward -looking services while we remain true to our mission of ethical Islamic banking,” said Christoph costs, CEO of Ruya. “By integrating virtual assets into our investment platform, we aim to strengthen our customers to participate in the digital economy sustainable and responsible. We can also assure our customers that the virtual assets we offer on our Ruya investment platform are Shari’ah-compatible, which provides a lot of security.”
The launch comes at a time of rapid growth in the UA’s virtual asset sector. In the year ended June 2024, the country received more than $ 30 billion in virtual assets marking an increase of 42% year to year surpassing the regional average of 11.7%, according to the announcement. The move emphasizes UAE’s emergence as a major hub for digital financing in the Mena region.
“Partnering with Ruya is a big step towards making virtual assets a trouble -free part of everyday banking,” said Mohammed Ali Yusuf (Mo Ali Yusuf), co -founder and CEO of Fuze. “Together, we combine Fuze’s groundbreaking infrastructure with Ruya’s obligation to ethical Islamic banking.”
Unlike other platforms that encourage speculative crypto trade, Ruya’s offering is embedded within a curated investment framework designed to support long -term economic growth, the company said in the announcement. It will focus on transparency, justice and ethical investments – core principles of Islamic economy.
To ensure accessibility and informed decision making, Ruya also offers support through social centers and hybrid call centers, where clients can receive expert guidance on virtual active investment.