Overview
Ruya, at a glance.
Ruya is an islamic bank headquartered in the United Arab Emirates, regulated by Central Bank of the UAE. Business accounts cost AED 79 a month. Opening an account takes 3–5 days.
Ruya Community Islamic Bank LLC is a licensed Islamic bank in the UAE, regulated by the Central Bank of the UAE.
Why businesses pick Ruya
- Sharia-compliant business banking
- AED 79 a month with no minimum balance
- Applied for online in about 20 minutes, set up within 48 hours
- Free transfers between Ruya accounts and a free first debit card
- Free cash deposits through partners
Watch out for
- Accounts are in AED only
- International bank transfers are not available in the account; transfers abroad go through Lulu International Exchange for AED 10.50 to AED 21
- Local transfers cost AED 0.50 up to AED 50,000 and AED 1.05 above
- Card spending abroad costs 3%
- Accepted countries, company types and prohibited industries are not published
Business fit
Will Ruya accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on Ruya's published rules
Needs review
Ruya works with Startups and SMEs, but does not publish the countries it accepts companies from.
Ruya does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What Ruya publishes about the businesses it takes on.
Who Ruya serves
- Startups and SMEs
- Freelancers
- E-commerce
- Professional services
Not supported
Industries and countries Ruya does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Ruya?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
AED only
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
UAE businesses
Pricing
What does Ruya cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Not published
Monthly fee
AED 79
Business current account
AED 79 per month
Setup fee not published
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | Not offered | Not available · Transfers abroad through Lulu International Exchange cost AED 10.50 to AED 21 |
| To another Ruya account | Free | No charge · Between Ruya accounts |
Other fees
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · First card; replacement AED 26.25 |
| Card FX | 3% | Percentage of the amount |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is Ruya a bank?
Yes. Ruya Community Islamic Bank LLC is a licensed Islamic bank in the UAE, regulated by the Central Bank of the UAE, licence 01.01.08.067.2024.04.
How much does a Ruya business account cost?
AED 79 a month with no minimum balance. Transfers between Ruya accounts are free; local transfers cost AED 0.50 or AED 1.05, and WPS payroll files AED 31.50.
Can I send money abroad from a Ruya business account?
International bank transfers are not available in the account. Ruya offers transfers abroad through Lulu International Exchange for AED 10.50 to AED 21.
Which currencies does Ruya offer?
AED only; Ruya says euro and US dollar accounts are not available yet.
Alternatives
How Ruya compares.
If Ruya is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 RuyaThis pageIslamic bank |  | Islamic bankingNo minimum balance |
 Wio BankBank | | Digital bank7 currencies |
 Mashreq NeoBizBank |   | Digital bankNo initial deposit |
 Zand BankBank | | Digital bank5 currencies |
 RAKBANKBank | | SME banking4 currencies |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.