UAE’s Ruya Bank Unveils World’s First Shari’ah-Compliant Bitcoin Trading

Ruya Bank in the UAE launches the first Shari’ah-compliant Bitcoin trading service via its app, ensuring ethical, secure, and regulated access to cryptocurrency for Islamic finance customers.

Ruya Bank in the UAE has become the first Islamic bank to offer Shari’ah-compliant Bitcoin trading directly through its mobile application, following a partnership with digital asset infrastructure provider Fuze. This initiative integrates Islamic finance principles with access to virtual assets, ensuring secure, transparent, and ethical investment opportunities for customers. Dubai’s Higher Shari’ah Authority has confirmed Bitcoin’s permissibility as an investable asset, fulfilling key Islamic finance conditions such as ownership, utility, and price transparency. Ruya Bank’s approach emphasizes responsible, long-term investing and discourages speculative trading, with a regulatory and technological framework designed for compliance and security. The move aligns with the UAE’s strategy to become a leading crypto hub, as the country recorded over $30 billion in virtual asset transactions in the past year. Ruya Bank’s roadmap includes expanding into other virtual assets and supporting the digital-asset ecosystem, setting a benchmark for Islamic finance institutions globally.