Innovative Collaboration to Improve Financial Services
To introduce cutting-edge debit and credit card options for both individual and business clients, Mastercard has teamed up with Ruya, a state-of-the-art digital Islamic community bank in the United Arab Emirates. Mastercard becomes Ruya’s sole partner for card issuance and associated services as a result of this partnership.
Specialized Services and Worldwide Presence
Mastercard Advisors, a global network of more than 3,000 consultants working in 53 countries, will provide Ruya with their knowledge. The recently introduced cards are intended to guarantee quick, safe, and easy purchases everywhere Mastercard is accepted. Additionally, Mastercard’s Priceless.com platform will provide cardholders with access to special deals and one-of-a-kind experiences.
Developing Islamic Finance in the United Arab Emirates
“Ruya is committed to serving the UAE community by meeting the financial needs of modern consumers and businesses while adhering to the highest ethical principles,” said Christoph Koster, CEO of Ruya, expressing excitement for the relationship. By collaborating with Mastercard, we can take use of their extensive worldwide experience and cutting-edge technology to improve our offerings, expand our footprint, and transform Islamic banking.
Using Innovation to Promote Financial Inclusion
“At Mastercard, we are committed to creating locally relevant solutions that address market-specific needs,” stated Gina Petersen-Skyrme, Senior Vice President and Country Manager for Mastercard in the United Arab Emirates and Oman, highlighting the common goal. Our objectives of financial inclusion and innovation are ideally aligned with Ruya’s digital-first Islamic banking approach. Building a strong, inclusive payment environment is our shared goal.
Transforming Islamic Finance
Ruya, which has its headquarters in Ajman, is modernizing Islamic finance by fusing cutting-edge technology with the fundamental principles of justice, openness, and social responsibility. Established in 2024, the bank sets a new benchmark for Islamic banking in the area by emphasizing community support, especially for small businesses, families, and entrepreneurs.
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