Bitcoin Meets Shari’ah Finance As UAE Bank Leads The Way

bitcoinistPublished on 2025-12-10Last updated on 2025-12-10

Abstract

Ruya Bank has launched in-app Bitcoin trading, becoming the first Shari’ah-compliant bank to offer this service via a mobile banking application. The offering, approved by the bank's Shari’ah-governance board, was developed in partnership with regulated digital asset infrastructure provider Fuze, which handles custody, settlement, and compliance. The service is positioned as a Shari’ah-approved investment option rather than a tool for speculation. This development provides a regulated pathway for Muslim investors who have previously avoided cryptocurrency due to religious concerns. The UAE, which saw $30 billion in virtual-asset inflows in a recent 12-month period, is creating clearer regulations, encouraging more financial institutions to integrate crypto services. Ruya plans to consider adding more digital assets in the future, focusing on long-term wealth planning rather than short-term trading.

Ruya Bank has launched in-app Bitcoin trading, becoming the first Shari’ah-compliant bank to let customers buy and sell the cryptocurrency using a mobile banking app.

According to the bank, the move follows approval by its Shari’ah-governance board and was built with a regulated partner to handle custody and settlement.

Shari’ah Approval And Partnership

Ruya said it worked with Fuze, a regulated virtual-asset infrastructure provider, to manage custody, settlement and compliance for trades.

The bank framed the service as a Shari’ah-approved investment option rather than a tool for quick speculation. Reports have disclosed that Bitcoin is the initial digital asset offered at launch.

UAE Crypto Flows And Local Context

Between July 2023 and June 2024 the UAE recorded roughly US$30 billion in virtual-asset inflows, a rise of 42% year-on-year according to figures circulated around the launch.

That growth has come as regulators in the UAE lay out clearer rules for virtual-asset service providers, making banks and fintechs more willing to add crypto features inside regulated apps.

How The Offering Works

Users who meet the bank’s terms can execute Bitcoin buys and sells inside the Ruya app. Trade execution and custody are handled by Fuze under the arrangements described.

The bank says its Shari’ah board reviewed the structure to ensure compliance with Islamic finance principles, with an emphasis on transparency and clearer risk controls.

BTCUSD now trading at $90,453. Chart: TradingView

Potential Impact On Muslim Investors

For Muslims who have avoided crypto because of religious concerns, this gives a regulated route inside an established bank.

Analysts quoted in coverage suggested the move could nudge more conservative savers toward holding some Bitcoin when they otherwise would not have.

Adoption will depend on demand and on whether other Islamic banks follow Ruya’s example.

What Comes Next

Ruya has signaled it will consider offering other virtual assets later, depending on demand and regulatory clarity. Based on reports, the bank wants to position this service as part of longer-term wealth planning rather than short-term trading.

This step marks a notable moment: a Shari’ah-compliant bank rolling Bitcoin trading into its core app with a regulated custodian.

It could widen access for Muslim investors in the UAE and beyond, while also testing how Islamic finance rules and modern crypto systems can be combined in practice.

Featured image from Pexels, chart from TradingView

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