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ADIB Became the First Islamic Bank to Execute a Trade Distribution Transaction by using Blockchain

ADIB Became the First Islamic Bank to Execute a Trade Distribution Transaction by using Blockchain

April 16, 2020 | Updated at April 16, 2020

https://islamicmarkets.com/articles/adib-became-the-first-islamic-bank-to-execute-a-trade
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By IM Insights

Abu Dhabi Islamic Bank (ADIB) became the first Islamic Bank to successfully enable blockchain in trade finance distribution transactions.

ADIB’s partnership with TradeAssets, a trade finance e-marketplace powered by blockchain technology, facilitated the cross-border transactions which were completed with multiple based banks. TradeAssets assists in digitizing the conventional process of origination and distribution of financial assets.

The Global Head of Transaction Banking at ADIB, Haytham Elmaayergi said that TradeAssets complements ADIB’s diverse offerings, ranging from digital cash, trade and foreign exchange. Businesses can access TradeAssets through the ADIB Direct...