Dubai, UAE – September 2024: Network International, a leading digital commerce enabler in the Middle East and Africa, has announced a strategic partnership with ruya, the UAE’s digital-first Islamic community bank, to revolutionize Islamic banking with cutting-edge digital payment solutions.
The collaboration will enable ruya to offer customers an enhanced, secure, and seamless digital banking experience by integrating advanced technology with the ethical principles of Islamic finance. Through Network International’s state-of-the-art payment solutions, ruya will introduce features such as instant transaction processing, personalized user experiences, and a comprehensive suite of digital banking services.
As the UAE’s largest payment solutions provider, Network International will drive a digital-first approach, significantly improving transaction speed, convenience, and the overall customer experience for ruya’s clients. In addition to its core payment offerings, Network will provide value-added services, including tokenization, card control, and fraud detection solutions, while ensuring compliance with Shariah standards.
Christoph Koster, CEO of ruya, commented on the partnership: “By seamlessly blending innovative technology with the core values of Islamic finance, this collaboration with Network International will further enhance our ability to provide secure, digital-first banking products and exceptional customer service to individuals, businesses, and communities across the UAE.”
Navneet Dave, Managing Director & Co-Head of Processing – Middle East at Network International, echoed the sentiment: “We are delighted to partner with ruya in transforming digital Islamic banking in the UAE. As a leader in payment solutions across the MEA region, our capabilities make us the partner of choice for governments, banks, fintechs, merchants, and public sector organizations. We are committed to supporting ruya’s growth strategy through cutting-edge technology and expanding their footprint in the country.”
This partnership is poised to raise the standards of Shariah-compliant banking, fostering innovation and promoting greater financial inclusion in the UAE’s growing digital economy. By leveraging their combined expertise, Network International and ruya aim to deliver an unprecedented level of convenience, security, and ethical banking services.
About Network International:
Network International is the largest digital payments provider in the Middle East and Africa, operating in over 50 countries. With more than 2,000 employees, the company serves over 250 financial institutions and 130,000+ merchants. Network International’s mission is to simplify payments and commerce, helping businesses and economies thrive.
About Ruya:
ruya Islamic Community Bank LLC, launched in 2024 and headquartered in Ajman, is a digital-first Islamic bank licensed by the Central Bank of the UAE. The bank combines innovative technology with the timeless principles of Islamic finance to provide individuals and businesses with a seamless digital banking experience. Guided by fairness, transparency, and social responsibility, Ruya focuses on financial inclusion, supporting families, entrepreneurs, and small businesses.
