National Bonds has announced that Ras Al Khaimah National Bank, commonly known as RAK Bank, has joined the liquidity management system called “the platform.” This platform is one of the first electronic systems in the region that facilitates the trading of sukuk based on the profit-sharing model, aimed specifically at financial institution partners.
Since its launch in 2013, the platform has successfully processed transactions totaling 199 billion dirhams, including 33 billion dirhams in 2024 alone. It offers licensed financial institutions the ability to subscribe to sukuk, transfer them, and redeem them through an automated system available 24/7. Mohammed Qassim Ali, the CEO of National Bonds, stated that this partnership represents an important step towards enabling a broader segment of the population to access this Sharia-compliant platform, leveraging financial technology and digital innovation.