National Bonds, the UAE’s leading Sharia-compliant savings and investment company, announced the onboarding of United Arab Bank (UAB) to its innovative Sharia-compliant Al Manassah platform.
“We are happy to onboard United Arab Bank to the Al Manassah platform, which has a proven track record of over 10 years and extensive experience in this field with many banks on board,” said Mohammed Qasim Al Ali, Group CEO of National Bonds.
“Leveraging advanced technology, it offers effortless integration and bespoke fintech solutions to partner banks and financial institutions, meeting the unique needs of Islamic finance,” he said.
Shirish Bhide, Chief Executive Officer of United Arab Bank, said the bank’s move to partner with the Sukuk trading platform is in line with its strategy to strengthen its digital capabilities and Islamic banking product offerings.
“We are confident of Al Manassah’s ability to provide the necessary flexibility we need in managing all the bank’s Islamic financing operations,” he said.
Since its inception in 2013, Al Manassah platform has processed AED189 billion worth of transactions, with more than AED27 billion facilitated in 2023.
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