Ruya, the first Islamic digital bank in the United Arab Emirates (UAE), has partnered with Fuze Finance to collaborate in providing services for buying and selling crypto assets such as Bitcoin (BTC).
Interestingly, Ruya's banking services are said to be in line with Islamic financial principles, where Bitcoin is compliant with Sharia, especially after partnering with Fuze, which allows users to invest or save in a halal manner.
As for the UAE, since June 2024, it has received over US$30 billion in virtual assets, with a growth of 42%, which is four times higher than the regional average of 11.7%.
Ruya Bank CEO Christoph Koster stated that the Islamic bank in the UAE is committed to transforming the financial landscape in the UAE, and assures customers that the virtual assets offered from the Ruya investment platform comply with Sharia and needs.
“We can also assure customers that the virtual assets we offer on our Ruya investment platform are compliant with Sharia, thus providing the certainty that is greatly needed,” said Koster.
Additional information, Ruya is not the only bank in the UAE adopting crypto in its services; Liv Digital Bank and Emirates NBD Bank have previously offered crypto trading services.