Who owns YAP?
short answerYAP is not itself a bank. It runs on a partner-bank (BaaS) model and works with RAKBANK — the licensed bank that actually holds customer deposits behind the app.
Is YAP a licensed bank?
No — a partner bank (RAKBANK) holds the money. Licence detail: Partner bank (Ruya Community Islamic Bank, CBUAE-licensed; formerly RAKBANK).
Where is your money held?
Custody model: Custodial.
YAP runs on: RAKBANK (BIN sponsor bank). Full stack on the infra map.
Who's behind YAP?
YAP was founded by Marwan Hachem, Anas Zaidan (2021), headquartered in Dubai, AE.
Is my money safe with YAP?
Your money is held by RAKBANK, so any deposit insurance flows through that sponsor bank — not YAP itself. Check the sponsor's scheme and whether balances are "passed through" for per-customer insurance.
go deeperSee the full YAP profile with every verified field, or YAP alternatives. Raw fields: data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.