RAKBANK joins National Bonds’ financial technology platform, Al Manassah
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 the 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.
