Remi and ruya Sign MoU to Explore Collaboration in Cross-Border Payments

Cross-border money movement is still slower and costlier than it should be, especially across the UAE's busiest payment corridors. Fixing it takes modern infrastructure working hand in hand with established, regulated financial services operators.

Today Remi and ruya took a step in that direction. Remi, the cross-border settlement infrastructure company, and ruya, the UAE's digital-first Islamic community bank, have signed a Memorandum of Understanding to jointly explore collaboration across banking, payments, remittances, settlement and financial technology.

The agreement is a non-binding MoU that sets a framework for the two teams to explore how modern settlement infrastructure and a community-first bank can move money faster and more transparently. It brings together complementary strengths: Remi's technology for routing and orchestrating cross-border payments, and ruya's technology-led, ethically grounded approach to banking in one of the world's most active remittance markets.

The UAE sits at the center of some of the world's busiest corridors, which makes it a natural place to prove a better model for moving money across borders. Under the MoU, Remi and ruya intend to explore where their capabilities can come together to deliver greater speed, lower cost and more transparency for the people and businesses who rely on these corridors.

"We're excited to explore what we can build together with ruya. They've shown what forward-looking, technology-led banking can look like in the region, and that ambition aligns closely with our own. Cross-border money movement is overdue for change, and partnerships like this are how that change actually happens. This MoU is the start of a conversation we believe can deliver real value for customers on both sides of the corridor."
A. Tony Amer, Founder and CEO of Remi.

"At ruya, we are committed to using technology and purposeful partnerships to make banking simpler, more accessible and aligned with our values. Exploring collaboration with Remi supports our ambition to enhance cross-border payment experiences while maintaining robust regulatory, compliance, risk-management and Shari'ah governance. This MoU gives us a framework to assess practical opportunities that could create meaningful value for our customers, businesses and the wider community."
Christoph Koster, CEO of ruya.

This is the beginning of a shared exploration, and we are excited about what the two teams intend to build together.