ADIB is the first Islamic Bank to use blockchain technology for tra…

The cross-border transactions, which have been accomplished with a number of primarily based banks, have been made attainable by way of ADIB’s partnership with TradeAssets, a commerce finance e-marketplace powered by Blockchain expertise to assist digitize the normal processes of origination and distribution of commerce property. For the previous yr, ADIB’s collaboration with TradeAssets has enabled it to automate commerce finance transactions and conclude transactions efficiently with banking counterparts in rising markets.

Commenting on the milestone, Haytham Elmaayergi, International Head of Transaction Banking at ADIB, mentioned: “The completion of the primary commerce distribution transaction utilizing Blockchain by an Islamic financial institution reveals that ADIB is on the cutting-edge of world transaction banking. As the one Islamic financial institution offering end-to-end Sharia’a-compliant commerce financing by way of digital channels, ADIB is dedicated to increasing its digital footprint in commerce financing and distribution, enhancing the effectivity and productiveness of companies throughout the area and globally.”

ADIB values the significance of incorporating rising applied sciences and forming strategic partnerships in a quickly evolving enterprise local weather. This dedication is represented within the financial institution’s collaboration with TradeAssets, an e-marketplace that enhances ADIB’s diversified digital money, commerce and international alternate choices, obtainable to companies by way of its flagship ADIB Direct platform.

Aimed toward companies of all sizes, ADIB Direct improves corporations’ means to handle their funds regionally and internationally. These options embody customisable dashboards, cashflow forecasting and on-line commerce issuance and financing that are accessible throughout all gadgets together with a cell app.