UAE based Emirates NBD has inveted in Blockchain enabled Komgo, trade finance platform. As per the press release , the strategic equity investment was made by Emirates NBD’s Innovation Fund, the Bank’s corporate venture fund.   The fund created in early 2023, aims to strengthen synergies from strategic partnerships by combining the Bank’s digital ambitions and regional expertise with the agility and technological innovations of fintech companies. Emirates NBD’s corporate venture capital arm will enable the Group to make investments in tech start-ups and companies that further support its digital strategy. The Innovation Fund’s mandate is to invest in a wide range of stages, from early to growth, depending on the strategic fit for the Group, with the aim of delivering strategic benefits and realising a long-term return from investments. Komgo’s solutions empower Treasury, Credit, and Trade Finance operations, streamlining communications and strengthening operat...

CargoX, the provider of the fastest-growing electronic trade document platform, and CEBS Worldwide, a global integrator of business solutions and a former TradeLens integrator, launched a partnership to help corporations continue the digitalization of their bills of lading and trade document workflows even those in the MENA region.  Businesses that started using TradeLens for their eB/L have been scrambling to migrate their electronic trade document processing to a new platform since TradeLens unexpectedly announced the end of its service in December 2022.  While TradeLens was able to onboard global carriers — CMA CGM, MSC Mediterranean Shipping Co., Hapag-Lloyd, Ocean Network Express and Zim Integrated Shipping Services — it announced in November 2022 it would shutter due to a lack of a path toward profitability. TradeLens was also piloting projects in Oman and KSA.  Saudi Customs, in partnership with the Ministry of Communications and Information Technology, the General...