Zurich Capital Funds Group has declared the launch of a digital Islamic bank that is compliant with Islamic law and offers all banking services in compliance with Islamic law.

This will be the world's first digital bank that is compliant with Islamic rules, beginning in the UAE and expanding to the rest of the Middle East, North Africa, Europe, and the rest of the world in the upcoming months.

Dr. Fahad Al-Marabi, CEO of Zurich Capital Fonds Group, stated that the digital bank is the group's third accomplishment in the Middle East, North Africa, and Europe, the first being the introduction of the Western Exchange portal, a Sharia-compliant digital currency trading system as part of its series of digital programs. Its objective is to improve the group's status as a pioneer in emerging media, blockchain, and other fields.

Al-Marabi clarified that there are collaborations with Islamic banks and financial firms, including Fintech Investment and other businesses, because the digital bank is built to respond to our clients, analyze their lives and interests, and provide them with convenient and affordable Islamic Sharia-compliant banking help. And with the financial needs, which are beautifully reflected in his brand's pledge and motto to have both digital and versatile banking solutions and services.

Sami Al-Muhammad, Executive Vice President, spoke about the digital bank's framework, stating that consumers would all register to a completely digital bank within minutes using only identity and photo identification. Members are provided a virtual debit card after registration, which could be used to make direct Internet transactions.