ruya Community Islamic Bank, the UAEโs purpose-driven Islamic bank, has signed a Memorandum of Understanding (MoU) with Dubai-based fintech company Peko, announcing the launch of a new strategic initiative to support small and medium-sized enterprises (SMEs) across the country.
Through this partnership, ruya will introduce a comprehensive digital platform aimed at simplifying business setup and daily operations for entrepreneurs. Powered by Pekoโs innovative infrastructure, the platform will offer more than 50 integrated business servicesโranging from company formation and license renewals to bill payments, HR tools, eSIM provisioning, travel services, software subscriptions, WhatsApp for Business integration, and automated financial reporting.
ruyaโs business customers will gain seamless access to these services, enabling them to launch and manage their operations efficiently and in full compliance with Islamic values.
Christoph Koster – Chief Executive Officer of ruya Community Islamic Bank, commented: โAt ruya, we believe in empowering entrepreneurs by offering more than just financial productsโwe provide practical solutions that help businesses grow. This partnership with Peko is part of our broader vision to make it easier for SMEs to launch, operate, and succeed in the UAE, all within a Shariโa-compliant framework.โ
Kashif Khan, Founder and CEO of Peko, added: โWeโve built Peko as an all-in-one platform to simplify and supercharge the way SMBs operate. By partnering with visionary institutions like ruya, weโre enabling banks to offer not just bankingโbut an entire suite of essential business services. This collaboration is a glimpse into the future of SME bankingโwhere financial services and day-to-day business tools come together seamlesslyโ
This initiative builds on ruyaโs growing suite of SME-focused offerings, including business banking accounts, Shariโa-compliant financing, digital invoicing, and innovative tools tailored for modern entrepreneurs.
With this partnership, ruya continues to demonstrate its commitment to fostering a supportive ecosystem for businessesโrooted in values, driven by technology.
