RAKBANK building

Rakbank Islamic Enables Bitcoin Trading Through Its Islamic Banking Platform

ByIFD

Rakbank has announced that customers of Rakbank Islamic can now buy, sell and hold Bitcoin through Bitpanda’s regulated virtual asset trading platform directly from the Rakbank mobile app.

The service allows customers to access Bitcoin through Rakbank Islamic while conducting transactions directly from their current or savings accounts in UAE dirhams.

According to Rakbank, customers can fund Bitcoin transactions directly from their Rakbank Islamic accounts without transferring funds to external exchanges. The bank said this provides a more streamlined way for customers to access virtual asset trading through its mobile banking platform.

The service is delivered through Bitpanda Broker MENA DMCC, Bitpanda’s Dubai Virtual Assets Regulatory Authority (VARA)-regulated entity. Rakbank facilitates access to the service through its mobile banking application in accordance with Shari’ah principles.

Vikas Suri, Managing Director Wholesale Banking Group-Products at Rakbank, said the launch is intended to make innovation accessible in a way that reflects customers’ needs and values. He added that Rakbank Islamic customers can access Bitcoin directly through the mobile application, with transactions funded in UAE dirhams.

Rakbank said the launch reflects growing customer interest in virtual assets and its focus on providing financial solutions through regulated partnerships.

The bank also described the development as a milestone, stating that Rakbank is the first conventional bank with an Islamic banking window to enable access to virtual asset trading through a regulated partner platform.

The launch builds on Rakbank’s strategic partnership with Bitpanda and forms part of the bank’s approach to expanding customer access to emerging financial technologies through regulated partnerships.

Source

Source: RAKBANK — Official Press Release
Publication Date: 24 August 2026
Source Link: RAKBANK Official Press Release

Industry Impact (IFD Editorial Insight)

The development connects Islamic banking services with regulated virtual asset trading infrastructure, creating a new channel through which Rakbank Islamic customers can access Bitcoin. It also highlights the growing intersection between Islamic banking platforms and emerging digital asset services.

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