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ruya Becomes First Islamic Bank to Offer Bitcoin Access
In a historic move, ruya has become the first Islamic bank to offer its customers direct access to Bitcoin and other virtual assets. The digital-first Islamic bank in the UAE, powered by a partnership with Fuze, is making it easier for users to invest in the crypto market while maintaining Shari’ah compliance.
According to CEO Christoph Koster, ruya’s focus on modernizing finance without compromising on Islamic principles has led to this groundbreaking innovation. He emphasized that all listed digital assets follow Islamic finance rules, ensuring a transparent and ethical investment experience.
The new offering is part of the bank’s commitment to responsible, long-term investing. By doing so, they aim to provide an accessible platform for its customers to engage with virtual assets while adhering to Islamic values.
Fuze Co-Founder Mohammed Ali Yusuf also expressed his enthusiasm about this collaboration, stating that it represents a major step forward in democratizing crypto banking for everyday users. He noted that by combining secure infrastructure with ethical banking practices, they are creating a more accessible digital economy.
The UAE is witnessing an unprecedented boom in the crypto market, having recorded over $30 billion in virtual assets by June 2024, representing a staggering 42% year-over-year growth. This significant surge has led to increased demand for regulated and ethical crypto investments.
With ruya’s new service, users can now easily access Bitcoin and other digital assets through a straightforward mobile app. The platform will not encourage risky speculation but instead promote transparent and ethical investment practices aligned with Islamic values.
Additionally, the bank has committed to providing community support through expert-guided investment centers and hybrid call services.
While other crypto platforms have already entered the market, ruya is the first Islamic bank to offer a Shari’ah-compliant platform.
Source: https://cryptotale.org/ruya-becomes-first-islamic-bank-to-offer-bitcoin-access/
