Abu Dhabi (Al Ittihad)
Abu Dhabi Islamic Bank announced that it won the “Best Electronic Market Award” from the “Trade Assets” platform, for its excellence in adopting digital technologies supported by blockchain technology.
In April of last year, the bank became the first Islamic banking institution to adopt blockchain technology to carry out trade finance distribution transactions, in partnership with the Trade Assets platform, the first electronic market for banks supported by blockchain technology.
And through the strategic partnership agreement signed last year with the Trade Assets platform with the aim of enhancing business efficiency and productivity, Abu Dhabi Islamic Bank continued to adopt new and emerging technologies, which resulted in its success in completing 130 transactions through the Trade Assets platform, with a total value of more than $128. One million dollars so far, and 11 banks from Bangladesh.
Abdullah Al Shehhi, Global Head of International Business at Abu Dhabi Islamic Bank, said: “Today, the bank is at the forefront of digitizing global banking deals that provide comprehensive, Sharia-compliant trade financing through its digital channels. Through our partnership with the Trade Assets platform, the bank continues its successes in the field of executing trade finance distribution transactions. By honoring him with this award, which is a testament to his commitment to adopting digitization that supports his efficiency and facilitates access to his services from all over the world. And by relying on the activities of our electronic market over the past three years, the bank has proven that forward-thinking financial and banking institutions can change the sector for the better.”
