National Bonds, the leading Sharia-compliant savings and investment firm in the UAE, announced a significant partnership with United Arab Bank (UAB). UAB has officially joined National Bonds’ innovative Al Manassah platform, solidifying National Bonds’ dedication to fostering inclusive economic growth within the UAE and setting a new benchmark for Islamic finance.
A Proven Platform for Islamic Finance
Established in 2013, the Al Manassah platform has processed a remarkable AED 189 billion in transactions, with over AED 27 billion facilitated in 2023 alone. This robust platform exemplifies National Bonds’ commitment to enhancing the appeal of Islamic banking and investment solutions. Al Manassah empowers partner banks and financial institutions by addressing their specific Islamic finance challenges and offering Sharia-compliant alternatives.
Leaders Applaud Partnership
Mohammed Qasim Al Ali, Group CEO of National Bonds, expressed his enthusiasm about UAB joining the platform. “We are thrilled to welcome United Arab Bank to the Al Manassah Platform,” he said. “With over a decade of experience and a proven track record of success in the Islamic finance sector, Al Manassah offers a seamless integration process and custom-built fintech solutions thanks to our advanced technology. This caters perfectly to the unique requirements of Islamic finance.”
Shirish Bhide, Chief Executive Officer of United Arab Bank, highlighted how this partnership aligns with UAB’s strategic goals. “This partnership agreement with the Sukuk Trading Platform ‘Al Manassah’ aligns perfectly with our bank’s strategy,” Bhide said. “It strengthens our digital capabilities and Islamic banking product offerings. Al Manassah stands out as a reliable provider of innovative solutions that adhere to Islamic Sharia principles when it comes to liquidity management needs. We have full confidence in Al Manassah’s ability to provide the flexibility required for managing all of our Islamic financing operations effectively.”
Sharia-Compliant Solutions for Ethical Finance
The extensive range of Sharia-compliant products offered by Al Manassah underscores National Bonds’ unwavering commitment to ethical and socially responsible financial practices. The platform leverages cutting-edge technology to ensure effortless integration for partner institutions. Additionally, Al Manassah provides bespoke fintech solutions that are meticulously tailored to address the specific needs of Islamic finance.
