Network International partners with ruya to improve Islamic Banking

This collaboration aims to improve ruya's customer experience by merging advanced digital technology with Islamic banking principles. Through the partnership, ruya will adopt Network International's payment solutions, enabling features such as instant transaction processing, personalised user experiences, and a full suite of digital services.

Network International will implement a digital-first approach to services, improving transaction speed, convenience, and overall customer satisfaction. The company will also offer additional services such as tokenization, card control, and fraud prevention, all while supporting ruya’s Shariah-compliant services and ethical banking practices.

The partnership is expected to elevate Shariah-compliant banking standards and drive innovation within the UAE’s expanding digital economy. By leveraging their combined expertise, Network International and ruya aim to promote greater convenience, security, and financial inclusion in ethical banking.

Islamic Banking in the UAE

In the UAE, the demand for Islamic banking has grown significantly, driven by a combination of cultural factors, regulatory support, and an increasing preference for ethical financial products. Consumers in the UAE, particularly those seeking Shariah-compliant services, are drawn to the transparency and fairness inherent in Islamic banking. The sector caters not only to individual clients but also to businesses and governments, offering tailored financial solutions that align with Islamic principles. This growing interest reflects a broader trend across the Middle East, where many are turning to Islamic banking for its commitment to both financial inclusion and moral responsibility.

The UAE government has also played a pivotal role in fostering the growth of Islamic banking. Regulatory frameworks have been developed to support the sector, and Dubai aims to position itself as a global hub for Islamic finance. With a diverse population that includes both Muslims and non-Muslims, Islamic banking offers an attractive alternative for those prioritising ethical banking practices, as it blends modern financial technology with time-honoured principles. This rise in demand is contributing to the expansion of Shariah-compliant financial institutions and products, positioning the UAE as a key player in the global Islamic banking industry.