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RAKBANK Joins National Bonds' Fintech Al Manassah Platform — Partnership Expands Market Access and Supports the UAE's Vision to Lead the Global Islamic Economy

National Bonds has onboarded RAKBANK onto the Al Manassah Sukuk Trading Platform, a Sharia-compliant digital platform that has processed over AED 199 billion in transactions since 2013. The partnership aims to expand access to Islamic finance solutions and support the UAE's vision to lead the global Islamic economy through operational efficiency and digital innovation.

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Monday, 7 July, 2025
  • Strategic agreement enables seamless Sukuk issuance, subscription, and redemption via a Shari'a-compliant digital platform
  • Partnership aims to drive financial inclusion, operational efficiency, and customers empowerment across the UAE's Islamic finance ecosystem

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 United Arab Bank, said: "In line with the bank's strategy to strengthen its digital capabilities and expand its Islamic banking product offerings, we are pleased to sign this partnership agreement with Al Manassah. We are confident in the platform's ability to provide the agility and flexibility needed to grow our Islamic financing operations and deliver greater value to our customers."

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.

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