Ruya Shatters Barrier: First UAE Islamic Bank Opens Bitcoin Trading Floodgates

A financial frontier just crumbled in the desert. Ruya, a major Islamic bank in the United Arab Emirates, has officially launched Bitcoin trading for its clients—becoming the first Sharia-compliant institution in the region to do so.

The Compliance Crossroads

This isn't just another exchange listing. The move required navigating the complex intersection of Islamic finance principles (which prohibit excessive uncertainty and speculation) with the volatile nature of digital assets. Ruya's green light suggests a landmark interpretation that Bitcoin's infrastructure can align with Sharia law, potentially unlocking access for a vast, previously restricted investor base.

Market Mechanics Unleashed

Clients can now buy and sell Bitcoin directly through their existing Ruya banking interfaces. The service integrates familiar banking security with crypto's 24/7 markets, effectively bridging two worlds that have largely operated in parallel. It bypasses the need for external, unregulated exchanges, offering a regulated on-ramp that traditional finance craves.

The Ripple Effect

Watch other Gulf institutions follow. Ruya's precedent pressures competitors and could accelerate wider institutional adoption across the Middle East's wealth funds. It also throws a sharp spotlight on the evolving regulatory frameworks in financial hubs like Dubai and Abu Dhabi, which are racing to become global crypto capitals.

A new pool of capital—steeped in ethical investing principles—is now eyeing the crypto charts. Whether this brings stability or just a different kind of fervor remains to be seen. After all, finding religious sanctity in a market known for wild speculation is the kind of paradox that makes finance so endlessly entertaining—and profitable for those writing the rules.

UAE Mashreq Capital launched a fund that includes Bitcoin

Earlier this month, UAE-based Mashreq Capital, a leading asset manager operating out of DIFC (Dubai International Financial Center), launched BITMAC, a multi-asset investment mutual fund that includes equities, fixed income, gold, and Bitcoin exposure via ETFs.

As per Mashreq Capital, BITMAC offers retail investors an innovative, diversified, and systematically rebalanced portfolio. Prior to that, UAE banks such as RAK Bank and Liv Bank also started offering crypto trading services using crypto exchanges as partners.

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