ruya Community Islamic Bank, a leading purpose-driven Islamic bank in the UAE, has entered into a strategic collaboration with Peko, a Dubai-based fintech company, to launch a groundbreaking initiative that aims to support the country’s small and medium-sized enterprises (SMEs).
This partnership will introduce an innovative digital platform designed to streamline business operations and simplify the setup process for entrepreneurs. Powered by Peko’s cutting-edge technology, the platform will provide over 50 integrated services, including company formation, license renewals, bill payments, HR tools, travel services, eSIM provisioning, software subscriptions, WhatsApp for Business integration, and automated financial reporting.
The collaboration offers ruya’s business customers seamless access to these essential tools, helping them launch and manage their operations efficiently while adhering to Islamic principles.
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Christoph Koster, CEO of ruya Community Islamic Bank, expressed:
At ruya, we go beyond offering financial products by providing practical solutions that enable business growth. Our partnership with Peko aligns with our mission to make business operations easier for SMEs in the UAE, ensuring they do so in a Shari’a-compliant environment.
Peko as a comprehensive platform designed to simplify the operations of SMEs. By partnering with forward-thinking banks like ruya, we’re not just offering financial services, we’re providing a holistic suite of tools that empower businesses. This collaboration represents the future of SME banking, where banking and business operations merge seamlessly.
This new initiative further enhances ruya’s commitment to SMEs, complementing its existing offerings such as business banking accounts, Shari’a-compliant financing, and digital invoicing. Through this partnership, ruya strengthens its role in fostering a dynamic and supportive ecosystem for entrepreneurs—driven by innovation and grounded in values.
