National Bonds, the UAE’s leading Sharia-compliant savings and investment company, has onboarded United Arab Bank (UAB) to its innovative Sharia-compliant Al Manassah platform.
The move reflects National Bonds’ commitment to supporting the UAE’s vision for inclusive economic growth, setting a new standard in Islamic finance.
Since its inception in 2013, Al Manassah Platform has processed AED 189 billion ($51 billion) worth of transactions, with more than AED 27 billion ($7.3 billion) facilitated in 2023, affirming National Bonds’ efforts to enhance the appeal of Islamic banking and investments and addressing financial challenges faced by financial institutions while providing a Sharia-compliant alternative.
Mohammed Qasim Al Ali Group CEO National Bonds
“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. Leveraging advanced technology, it offers effortless integration and bespoke fintech solutions to partner banks and financial institutions, meeting the unique needs of Islamic finance.”
Shirish Bhide, Chief Executive Officer of United Arab Bank, said that, “Al Manassah is a reliable provider of innovative solutions to liquidity management requirements in accordance with the rules and regulations of Islamic Sharia. We are confident of Al Manasah’s ability to provide the necessary flexibility we need in managing all the bank’s Islamic financing operations.”
