The global technology company in the payments industry, Mastercard, announced initiating a collaboration with ruya, a new digital Islamic community bank in the UAE, to launch innovative debit and credit card products for individual and commercial customers.
The cards will facilitate fast, seamless and secure transactions across millions of locations worldwide wherever Mastercard is accepted.
In addition, cardholders will be able to access special deals and unique experiences through the company’s platform priceless.com.
The bank will also benefit from the services of Mastercard Advisors, which employs more than 3,000 consultants in 53 countries.
“We are delighted to join forces with Mastercard to leverage its global network, advanced technology and extensive expertise to help us enhance our offerings, grow our footprint and realize our ambition of transforming the Islamic banking landscape,” said Christoph Koster, CEO, ruya.
Gina Petersen-Skyrme, Senior Vice President, Country Manager, UAE and Oman at Mastercard, said the company prides itself on forging dynamic partnerships to co-create locally relevant products and solutions that focus on the requirements of each market.
“Islamic finance is a great example of how we innovate and collaborate to build robust and inclusive payment ecosystems,” Petersen-Skyrme said.
Headquartered in Ajman, ruya brings a modern spin to Islamic finance by blending cutting-edge technology with the principles of Islamic banking.
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