Over AED 135 billion traded on the Fintech platform to support banks & international financial institutions
Dubai, UAE, 10th January 2022: National Bonds’ Sukuk Trading Platform (STP), Al Manassah, reaches unprecedented heights in line with the growth of the Islamic Financing Industry. Al Manassah’s Fintech platform has become a game changer in supporting the Banks for their liquidity management requirements, which operates all year round, with no limitation on trading hours. Al Manassah has been supporting the participating banks’ performance and has increased customer satisfaction thanks to its efficiency. The Sharia-compliant Sukuk trading portal, established in 2015, was designed to facilitate the Islamic finance industry with liquidity management solutions especially for the growing Personal Finance business for retail clients.
Financial institutions such as Abu Dhabi Islamic Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Sharjah Islamic Bank, and many more are avid users of Al Manassah.
“This year marks six years since the initiation of the STP and the growth has been remarkable. To date, leading UAE and regional banks have traded Sukuk worth over AED 135 billion and conducted over a million transactions by using Al Manassah. This platform’s objective was to come up with out of the box fintech solutions that solve ongoing issues with other liquidity providing platforms offered in the market. The plan is to continue to transform, upgrade and enrich the experience for our partners. With stringent guidelines in place that follow Sharia-compliant processes, our platform ensures that all the clients are able to use the Al Manassah platform with zero complications,” said Rehab Lootah, Group Deputy CEO, National Bonds.
National Bonds’ Al Manassah ensures its solutions support the financial institutions in adopting fintech solutions in the growing Islamic finance ecosystem with more emphasis on cost efficiency. The state-of-the-art technology maintains the day-to-day functionality of partnering banks with lower risks and reduced costs.
