The service, developed in partnership with digital asset infrastructure provider Fuze, aims to offer investment opportunities in digital assets that comply with Islamic financial principles.
This development aligns with the growing virtual asset sector in the UAE, where, according to recent figures, over USD 30 billion worth of virtual assets were received in the year ending June 2024. The country's growth rate in this sector has reached approximately 42%, significantly outpacing the regional average.
Ruya's platform is designed to prioritise ethical investment practices rather than speculative trading. Customers can access a range of cryptocurrencies, including Bitcoin, through a secure and transparent system built to adhere to Islamic governance standards. The integration of Fuze’s digital asset infrastructure provides the technological foundation for the new service.
Officials from Ruya indicated that the bank’s general objective is to support sustainable, long-term wealth management practices. They stated that incorporating Shari’ah-compliant virtual asset services allows customers to engage with the digital economy in a way that remains consistent with Islamic ethics.
Representatives from Fuze expressed that their collaboration with Ruya aims to make virtual assets a seamless part of everyday banking while upholding ethical standards.
In addition to digital services, Ruya offers customer support through its community centres and hybrid call centres to assist users navigating this new offering. The bank positions itself as an institution focused on combining Islamic financial values with digital innovation, reflecting wider trends in the UAE's financial services landscape.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now