A groundbreaking initiative has emerged in the fintech sector as Ruya Bank introduces an innovative platform for Bitcoin trading tailored for Islamic clients. This service offers a Shari’ah-compliant means for individuals to engage with cryptocurrency right from the comfort of their mobile banking app.
This initiative has been sanctioned by its Shari’ah board, ensuring adherence to Islamic finance principles while collaborating with a regulated partner to facilitate the safe custody and settlement of trades.
Partnerships Built on Trust
Ruya has teamed up with Fuze, a reputable virtual-asset infrastructure provider, which streamlines custody and compliance for transactions. This partnership ensures a secure trading environment for customers interested in the digital asset space.
Rather than being a quick investment platform, Ruya emphasizes that its service is a well-considered investment option, supporting long-term financial planning efforts. Currently, Bitcoin is the primary digital currency available for trading.
The Context of UAE’s Crypto Landscape
Recent statistics reveal that from July 2023 to June 2024, the UAE experienced an impressive US$30 billion in virtual asset inflows, marking a substantial year-on-year increase of 42%. This surge indicates a growing acceptance of cryptocurrency within the region.
Ruya Bank’s CEO: Bitcoin Trading Now Shari’ah Compliant – A Transformative Shift for Islamic Finance via @unlockbc @myruyabank #islamicFinance #BitcoinHalal #Shariah_compliant #Bitcoin #adoption #BitcoinNews #UAE
— Unlock Blockchain (@unlockbc) December 8, 2025
Such growth coincides with increased regulatory clarity in the UAE, prompting banks and fintech companies to confidently explore the inclusion of crypto functionalities in their applications.
Mechanics of the New Offering
Eligible users can seamlessly buy and sell Bitcoin through the Ruya app, with Fuze facilitating trade execution and custody. This arrangement underscores the bank’s commitment to providing a transparent and secure trading experience.
To align with Islamic finance standards, the Shari’ah board conducted a thorough review of the service structure, prioritizing transparency and risk management.
The Ripple Effect on Muslim Investors
This service presents a regulatory compliant pathway for Muslim investors who may have previously shunned cryptocurrencies due to religious apprehensions. Analysts predict that this move by Ruya could encourage more conservative investors to consider holding Bitcoin as a part of their portfolios.
The ultimate success of this initiative will hinge on demand and the likelihood of other Islamic banks adopting similar offerings.
Looking Ahead
Ruya Bank is contemplating the introduction of additional virtual assets, depending on market demand and regulatory developments. This strategic approach aims to position its offering as a component of holistic financial planning rather than as a mere speculation tool.
This initiative signifies a pivotal moment in Islamic finance, bringing together mainstream banking and cryptocurrency trading within a regulated framework.
As these services expand, they offer unprecedented access for Muslim investors both in the UAE and globally, testing the synergy between Islamic finance rules and modern digital economies.
Image courtesy of Pexels, chart by TradingView
