UAE: The UAE’s first Islamic digital bank ruya will introduce new products this year including financing and investment instruments as part of its triple-pronged growth strategy, CEO Christoph Koster tells IFN Fintech. The Ajman-headquartered bank’s investment portfolio pipeline includes Halal stocks and exchange-traded funds (ETFs), private assets as well as fractionalized Sukuk in collaboration with partners. The idea is to onboard these third-party products onto its digital platform to offer its customers a range of financial solutions ranging from financing to investments.
“We are launching a fully Shariah compliant stock and ETF investment channel that cuts across all markets from the UAE to Southeast Asia as well as developed markets including the US,” confirms Christoph. This follows the bank’s recent partnership with digital asset infrastructure provider Fuze allowing it to offer Shariah compliant crypto investments.
