UAE Trade Connect Blockchain Trade Finance platform keen to expand into KSA
UAE Trade Connect Blockchain enabled trade finance platform looks to offer its solution to Saudi banking sector. Zul Javaid, CEO of UAE Trade Connect expressed his interest in expanding the Blockchain enabled KYC Trade Connect platform to KSA. This came as UAE Trade Connect participated at the Global Trade Review conference in Riyadh KSA in May of this year. As per Javaid, “The Kingdom of Saudi Arabia is a robust banking market, and we are very keen to bring our unique blockchain and AI based engine into the country to help banks de risk their trade finance lending.” Javaid met with several leading Saudi banks at the event. Also present at the event in KSA was First Abu Dhabi Bank and Emirates Bank who are members of Blockchain enable UAE Trade Connect platform. In February 2023, UAE Trade Connect added its 11 th bank to the platform, the United Arab Bank. Prior to that Abu Dhabi Islamic Bank (ADIB) became the 10th bank to join Blockchain trade finance platform. UTC...