National Bonds has partnered with the National Bank of Ras Al Khaimah (RAKBANK), adding it to the Al Manassah Sukuk Trading Platform in a strategic move to strengthen Sharia-compliant financial services in the UAE. Al Manassah, launched in 2013, is one of the region’s first electronic platforms dedicated to Mudaraba-based Sukuk trading for partner financial institutions. To date, the platform has processed transactions worth over AED199 billion, including AED33 billion in 2024 alone.

Al Manassah offers a fully automated, secure system that allows licensed institutions to subscribe to, transfer, and redeem Sukuk around the clock. With RAKBANK now on board, the platform aims to expand its reach, providing more individuals and businesses in the UAE with seamless access to ethical, Sharia-compliant investment opportunities. This integration supports the country’s broader vision of becoming a global hub for Islamic finance and digital innovation.

Mohammed Qasim Al Ali, Group CEO of National Bonds, emphasized that this collaboration represents a significant step in advancing inclusive finance through technology. By bringing together expertise in Islamic finance and cutting-edge fintech solutions, the platform facilitates greater confidence and efficiency for investors.

RAKBANK’s Group CEO, Raheel Ahmed, highlighted that joining Al Manassah aligns with the bank’s mission to deliver innovative, Sharia-compliant products. The partnership not only enhances RAKBANK’s Islamic banking offerings but also strengthens its commitment to supporting the UAE’s growing Islamic economy and empowering the local community.