"National Sukuk" Involve "Rak Bank" For liquidity management platform
Dubai, July 14 / WAM / The National Sukuk announced today that Ras Al Khaimah National Bank, Rak Bank, joined the “platform” liquidity management system, which is one of the first electronic platforms in the region to trade the instruments based on the speculation system, which is devoted to partners from financial institutions.
Since its launch in 2013, the “platform” has succeeded in addressing operations with a total value of 199 billion dirhams, including more than 33 billion dirhams during 2024 alone.
The platform allows the licensed financial institutions to subscribe to the sukuk, transfer and recover them, through a system that is available around the clock.
Muhammad Qasim Al -Ali, CEO of the National Sukuk Group, said that this partnership represents an additional step in the efforts of the group to enable a broader segment of reaching the platform compatible with the law, by relying on financial technology and digital innovation.
For his part, Rahil Ahmed, CEO of Ras Al Khaimah National Bank, said that this partnership with the National Sukuk is an extension of the bank’s commitment to providing solutions compatible with the provisions of Islamic Sharia, and customers were able to benefit from services efficiently and flexible.
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