National Bonds, the UAE’s leading Sharia-compliant savings and investment company, has onboarded the National Bank of Ras Al Khaimah (RAKBANK) onto the Al Manassah Sukuk Trading Platform.
This step marks a strategic effort to expand the reach of the Al Manassah Sukuk Trading Platform across the UAE.
According to the statement, Al Manassah is among the region’s first Sharia-compliant electronic platforms for trading Mudaraba-based Sukuk for partner financial institutions.
Since its inception in 2013, the platform has processed over $54.1 billion (AED 199 billion) worth of transactions, including more than $8.986 billion (AED 33 billion) in 2024 alone. The platform enables licensed financial institutions to subscribe, transfer, and redeem Sukuk through a secure, fully automated process 24×7, as per the statement.
Mohammed Qasim Al Ali, Group CEO of National Bonds, stated that, “We are pleased to welcome RAKBANK to Al Manassah. This partnership is another step forward in our mission to empower wider access to the Sharia-compliant platform through fintech and digital innovation.”
Raheel Ahmed, Group Chief Executive Officer of RAKBANK, said that, “This partnership with Al Manassah is a natural extension of our commitment to deliver innovative, Sharia-compliant solutions that empower our customers. By leveraging advanced digital capabilities, we can offer greater accessibility and flexibility to individuals and businesses alike.”
As per the reports, the wide range of Sharia-compliant products Al Manassah provides underscores National Bonds’ commitment to ethical and socially beneficial financial practices. It offers seamless integration powered by high-end technology to partner banks and financial institutions, providing bespoke fintech solutions tailored to the unique needs of Islamic finance.
