The latest episode of Cheque Point by Finance Middle East is out! In this episode, Nivetha Dayanand, Editor of Finance Middle East, talks with Christoph Koster, CEO of ruya, about the launch of UAE’s first digital-first Islamic bank. The Islamic finance industry continues to grow worldwide, surpassing Dh16.5 trillion in 2022 and is forecast to grow to Dh24.5 trillion by 2027.

The UAE is the world’s fourth-largest Islamic finance market, with Islamic banking assets representing 23% of the country’s total banking assets. In this competitive market, a new bank aims to distinguish itself as the nation’s first digital-first Islamic bank, offering ethical banking solutions to meet the growing demand for Sharia-compliant financial services. Headquartered in Ajman and licensed by the Central Bank of the UAE as a Specialised Bank in 2024, ruya combines innovative technology with the principles of Islamic Banking.