UAE Abu Dhabi Islamic Bank secured 130 deals valuing over $128 million from 11 banks in Bangladesh using Blockchain trade finance platform TradeAssets. TradeAssets is powered by blockchain technology for digital origination and the distribution of trade assets. As a result UAE based Blockchain trade finance e marketplace TradeAssets has awarded Abu Dhabi Islamic Bank (ADIB), e-Marketplace Champion Award for its excellence in digital adoption from blockchain-powered e-Marketplace  ADIB has been constantly embracing new and emerging technologies, with the strategic partnership signed last year with TradeAssets further strengthening the efficiency and productivity of businesses.  Commenting on the recognition, Abdulla Shehhi , Global Head International Business Group (IBG), at ADIB, stated, “ADIB is at the cutting-edge of global transaction banking offering end-to-end Sharia’a-compliant trade financing through digital channels. Through the successful implementation of Trad...

Abu Dhabi Islamic Bank (ADIB) has become the 10th bank to join Blockchain trade finance platform UAE Trade Connect (UTC), developed by e& enterprise, formerly Etisalat Digital. As per the news this will support ADIB’s digital transformation strategy while boosting the transparency and security of its services. The bank will utilize the UTC platform for the detection of fraud and dubious transactions in the trade finance segment, according to a press release.   Faisal Abu Shaar, Group Chief Risk Officer at ADIB, said: “With the goal of supporting UAE’s economic development, we will work closely with UTC and other member banks to enhance our digital capabilities and promote the security of the country’s financial sector. We look forward to capitalizing on the opportunities of this agreement to deliver safe and completely transparent banking solutions for our customers.”   Meanwhile Zulqarnain Javaid, CEO of UTC, added “ADIB is an important bank in the corporate ban...