In a recent LinkedIn post , Zul Javaid, CEO of UAE Trade Connect, the UAE’s first trade finance platform to combat fraud, announced that they had hired Wissam Massud to lead their international expansion. As per the post, Massud will define market-entry strategies as UAE Trade Connect widens its horizons to GCC, other Middle East, Africa countries. In the post, Javaid states, “We know that UTC's unique #blockchain technology addresses a real-life pain for banks and tradefinance lending everywhere, so we fully expect to be knocking on lots of countries' doors in the coming year.” Prior to this announcement, In May 2023 Zul Javaid coming back fro a recent participation at Global Trade Review conference in KSA had noted that UAE Trade   Connect was interested in offering its solutions to the Saudi Arabian banking sector. 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 engi...

  Blockchain trade finance platform for banks in the UAE, UAE Trade Connect, an e&enterprise company has announced that it has surpassed $27 million in transactions identifying interbank duplicate financing and preventing fraud attempts. According to their LinkedIn post , “ This accomplishment serves as a testament to the unwavering dedication and commitment of the 12 leading banks in our consortium to combat fraud in real-time. As we move forward, we remain committed to continuously improving our platform's capabilities and staying ahead of evolving #fraud tactics.” UAE Trade Connect includes the following UAE banks, Abu Dhabi Commercial Bank, ADIB - Abu Dhabi Islamic Bank, Al Masraf, Commercial Bank of Dubai, Commercial Bank International, Dubai Islamic Bank, Emirates NBD, First Abu Dhabi Bank (FAB), Mashreq Corporate & Investment Banking Group, National Bank of Fujairah, RAKBANK and United Arab Bank . UAE Trade Connect   is seeking   to offer its soluti...

  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...

    Blockchain UAE Trade Connect platform, the UAE’s first trade finance platform to combat fraud has added United Arab Bank (UAB) as its 11 th bank on its platform. UTC, the fintech blockchain platform of e& enterprise, is the UAE's first commercialized solution to combat fraud in the trade finance space built on advanced technologies, namely blockchain and Artificial Intelligence (AI). UTC is a collaborative project of the banking industry and co-created with e& enterprise. UAE Trade Connect is a cloud-native solution that detects suspicious transactions, prevents fraud and duplication, and supports a wide range of trade-related documents that is validated and inspected in real time. Shirish Bhide, Chief Executive Officer at United Arab Bank, stated, “We wholeheartedly support UTC's mission of driving digital transformation and reducing fraud risks. This strategic partnership aligns with UAB's mission to accelerate growth through digitization and to build...

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...