In a move to widen participation in Sharia-compliant investment, National Bonds has officially onboarded RAKBANK (National Bank of Ras Al Khaimah) onto its Al Manassah Sukuk Trading Platform.
Launched in 2013, Al Manassah is one of the region’s first fully digital platforms dedicated to Mudaraba-based Sukuk trading. It allows licensed financial institutions to subscribe, transfer, and redeem Sukuk through a secure, 24/7 automated interface.
To date, the platform has processed over AED199 billion in transactions, with AED33 billion handled in 2024 alone.
Empowering digital access to Islamic finance
Mohammed Qasim Al Ali, Group CEO of National Bonds, welcomed the partnership, stating:
“We are pleased to welcome RAKBANK to Al Manassah. This partnership is another step forward in our mission to empower wider access to the Sharia-compliant platform through fintech and digital innovation.”
Raheel Ahmed, Group CEO of RAKBANK, echoed the sentiment, highlighting the platform’s impact:
“This partnership with Al Manassah is a natural extension of our commitment to deliver innovative, Sharia-compliant solutions that empower our customers. By leveraging advanced digital capabilities, we can offer greater accessibility and flexibility to individuals and businesses alike.”
Driving fintech-led financial inclusion
The addition of RAKBANK strengthens the platform’s role in digitising Islamic finance and aligns with the UAE’s broader efforts to advance financial inclusion through fintech innovation. As demand for ethical and Sharia-compliant financial solutions rises, platforms like Al Manassah are well-positioned to meet the evolving needs of both institutional and retail investors.
