Remi and ruya Sign MoU to Explore Cross-Border Payments Partnership

Remi, a cross-border settlement infrastructure company, and ruya, a digital-first Islamic community bank in the UAE, have signed a Memorandum of Understanding to explore collaboration across banking, payments, remittances, settlement and financial technology. The MoU is non-binding and sets a framework for the two teams to evaluate where their capabilities overlap. Remi provides routing and orchestration technology for cross-border payments. ruya operates as a technology-led, Shari'ah-compliant bank in one of the world's most active remittance markets.

Under the agreement, the parties intend to explore ways to deliver faster, cheaper and more transparent money movement for individuals and businesses. No financial terms were disclosed, and the arrangement remains exploratory.