RAKBANK joins National Bonds' Fintech Al Manassah Platform
Partnership aims to drive financial inclusion, operational efficiency, and customers empowerment across the UAE's Islamic finance ecosystem
Dubai, United Arab Emirates — In a strategic move to broaden the reach of Al Manassah Sukuk Trading Platform in the UAE, National Bonds, the UAE's leading Sharia-compliant savings and investment company has onboarded RAKBANK (The National Bank of Ras Al Khaimah) onto Al Manassah Sukuk Trading Platform. This collaboration marks a significant milestone in expanding access to one of the country's most established Sharia-compliant digital platforms for Sukuk issuance and trading.
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 AED 199 billion worth of transactions, including more than AED 33 billion in 2024 alone; underscoring National Bonds' commitment to enhancing the appeal of Islamic banking while addressing liquidity challenges and lack of a full fintech solution faced by financial institutions through a Sharia-compliant alternative.
With 13 partner banks and financial institutions onboard, including two of the UAE's largest Islamic banks, Al Manassah has played a pivotal role in shaping a more agile and inclusive Islamic finance infrastructure. The platform offers a wide range of Sharia-compliant investment tools, supported by bespoke fintech solutions tailored to the needs of modern Islamic finance. Its seamless integration and high-end technology continue to set new standards for operational efficiency and ethical financial practice.
The platform enables licensed financial institutions to subscribe, transfer, and redeem Sukuk through a secure, fully automated process 24/7. With RAKBANK now integrated into the platform, more UAE customers will benefit from streamlined Sukuk financial options supported by operational transparency, regulatory compliance, and digital ease.
This partnership brings together two institutions with a strong track record in delivering Sharia-compliant financial solutions. RAKBANK will leverage Al Manassah to enhance its Islamic banking offering and execute transactions in real time.
Mohammed Qasim Al Ali, Group CEO of National Bonds, stated: '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. As the UAE continues to lead in digital transformation and inclusive finance—and with the country's ambition to become a global centre for the Islamic economy—collaborations like this are instrumental in turning that vision into reality. By working with like-minded institutions, we are making it easier for individuals and corporates to trade in Sukuk with confidence, efficiency, and peace of mind'.
Raheel Ahmed, Group Chief Executive Officer of RAKBANK, said:"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. We are proud to support the UAE's vision to be a global leader in Islamic finance, while further strengthening our Islamic banking proposition and deepening our connection with the Emirati community."
National Bonds continues to scale the reach of Al Manassah across the UAE's financial ecosystem. The platform's growing network of partners, automated workflows, and unified trade standards are all underpinned by National Bonds' deep expertise in Islamic finance and commitment to financial empowerment.
About National Bonds Corporation Sole Proprietorship PSC:
National Bonds Corporation is a Sharia-compliant savings and investment company owned by the Investment Corporation of Dubai, established in 2006. It is licensed and supervised by the Securities and Commodities Authority and is audited by the Dubai Government Audit Department, Sharia Supervisory Board as well as reputable International external auditors. The company provides UAE nationals, UAE residents, and non-residents with an opportunity to build and fortify their savings safety net, as well as invest in programs that offer competitive returns with lower risk. Its goal is to encourage disciplined savings habits for people across the 7 Emirates, in line with the UAE Government's Vision for a financially secure and sustainable future. National Bonds offers an exciting AED 36 Million Rewards Program to all savers, with monthly and quarterly prizes ranging from AED 1 million to various luxury cars.
About RAKBANK:
RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE.
We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX).
RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments.
With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKIslamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online.
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