Ruya, an Islamic bank in the UAE, said in a press release carried by Zawya this week that customers can now buy and sell Bitcoin directly through its mobile app under a Sharia-compliant structure.
The bank presents itself as the first Islamic institution in the UAE to embed Bitcoin investing inside a retail app, working with digital-asset firm Fuze to align custody, security and contract design with Sharia principles. Chainalysis data cited in the release indicate the UAE recently absorbed more than $30 billion in crypto inflows, a 42% annual increase, intensifying demand for regulated, faith-aligned on-ramps.
The announcement adds to a broader shift in the country, where other financial institutions are rolling out funds that combine conventional assets with Bitcoin ETF exposure or partnering with exchanges to provide crypto access. Market participants will be watching whether ruya’s model draws sustained adoption, expands beyond Bitcoin and spreads to other Gulf markets, or whether the volatility of the asset itself ultimately tests confidence in this newly labeled Sharia-compliant path.
Source: Ruya (press release via Zawya).
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