Based in the United Arab Emirates, digital-focused Islamic bank Ruya has introduced a new service allowing customers to invest in crypto assets through its mobile application, compliant with Sharia principles. This development marks a noteworthy step in the fields of Islamic finance and crypto banking.
Halal Cryptocurrency Services
Ruya has rolled out a new service that provides customers direct access to crypto asset investments. The service includes leading cryptocurrencies like Bitcoin 
$103,390, categorized as Sharia-compliant investment instruments. The bank aims to deliver services within an ethical and transparent investment framework that supports long-term financial growth.
This new service became possible through a strategic partnership with licensed crypto asset infrastructure provider Fuze. Both institutions are dedicated to entering the crypto economy safely and ethically. This partnership is considered a crucial step in terms of technological infrastructure integrity and adherence to financial service standards.
Christoph Koster, CEO of Ruya, stated, “At Ruya, we are committed to providing innovative services in the UAE financial landscape. By integrating crypto assets into our investment platform, we aim to support our customers’ sustainable participation in the crypto economy.”
Ruya is one of the recognized digital finance companies in the region, providing Islamic banking services.
Pioneering in UAE Crypto
The launch of this service coincides with a rapid growth period in the UAE’s crypto asset sector. By June 2024, the country’s crypto asset volume is expected to exceed $30 billion, reflecting an annual growth of 42%. This development has contributed to the increased interest in digital financial services in the region.
Mohammed Ali Yusuf, CEO of Fuze, remarked, “The collaboration with Ruya is a significant step towards the seamless integration of crypto assets into the banking system.”
The bank aims to provide support through community centers and hybrid call centers to help customers make informed investment decisions. The service emphasizes long-term financial growth and ethical investment principles while avoiding speculative transactions.
Ruya’s new investment platform offers vital insights into the digital transformation of Islamic finance. Factors such as technological infrastructure, collaboration, and market performance are expected to enhance the long-term sustainability of the service.
