UAE’s digital-first Islamic bank, ruya, has launched a new service allowing customers to buy and sell cryptocurrencies like Bitcoin directly through its mobile app. Offered in collaboration with Fuze, a licensed leader in the virtual asset space, the service ensures security, user-friendliness, and complete alignment with ethical Islamic financial principles.
This move marks ruya as the first Islamic bank globally to enable virtual currency transactions. The new feature forms part of the bank’s wider investment strategy, which promotes ethical Islamic wealth-building and supports customers’ long-term financial growth. With global interest in virtual assets rising rapidly, ruya’s initiative meets the demand for responsible portfolio diversification, firmly rooted in transparency, fairness, and ethical investing values.
Strengthening Commitment to Ethical Finance
Christoph Koster, CEO of ruya, emphasized the bank’s mission during the launch. “At ruya, we are committed to transforming the financial landscape in the UAE by offering forward-thinking services, while staying true to our mission of ethical Islamic banking,” he stated. Furthermore, he added that integrating virtual assets into their investment platform empowers customers to participate sustainably and responsibly in the digital economy.
Meanwhile, Mohammed Ali Yusuf, Co-Founder and CEO of Fuze, highlighted the partnership’s importance. He noted, “Together, we’re combining Fuze’s cutting-edge infrastructure with ruya’s commitment to ethical Islamic banking.” This collaboration ensures that ruya’s virtual asset service differs significantly from speculative trading platforms by offering a carefully curated investment framework that focuses on creating lasting value and supporting customers’ financial goals.
Positioning the UAE as a Virtual Asset Hub
The introduction of Shari’ah-compliant crypto services coincides with the UAE’s rapid rise as a leader in virtual asset activity across the Middle East and North Africa (MENA) region. Consequently, initiatives like ruya’s reinforce the country’s position as a forward-thinking financial hub that embraces digital innovation without compromising ethical standards.
By offering secure, Shari’ah-compliant crypto trading, ruya not only pioneers a new path for Islamic banking but also sets a benchmark for ethical digital investment practices worldwide.
