Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank to successfully execute trade finance distribution transactions using Blockchain technology. The cross-border transactions, which were completed with multiple based banks, were made possible through ADIB\u2019s partnership with TradeAssets, a trade finance e-marketplace powered by Blockchain technology to help digitize the traditional processes of origination and distribution of trade assets. For the past year, ADIB\u2019s collaboration with TradeAssets has enabled it to automate trade finance transactions and conclude transactions successfully with banking counterparts in emerging markets.<\/p>\n\n\n\n
Commenting on the milestone, Haytham Elmaayergi, Global Head of Transaction Banking at ADIB, said: \u201cThe completion of the first trade distribution transaction using Blockchain by an Islamic bank shows that ADIB is at the cutting-edge of global transaction banking. As the only Islamic bank providing end-to-end Sharia\u2019a-compliant trade financing through digital channels, ADIB is committed to expanding its digital footprint in trade financing and distribution, enhancing the efficiency and productivity of businesses across the region and globally.\u201d<\/p>\n\n\n\n
ADIB values the importance of incorporating emerging technologies and forming strategic partnerships in a rapidly evolving business climate. This commitment is represented in the bank\u2019s collaboration with TradeAssets, an e-marketplace that complements ADIB\u2019s diversified digital cash, trade and foreign exchange offerings, available to businesses through its flagship ADIB Direct platform.<\/p>\n\n\n\n
Aimed at businesses of all sizes, ADIB Direct improves companies\u2019 ability to manage their finances locally and internationally. These features include customisable dashboards, cashflow forecasting and online trade issuance and financing which are accessible across all devices including a mobile app.<\/p>\n\n\n\n
ADIB has received numerous awards for its digital cash management and trade finance offerings in recent months including \u2018Best Islamic Financier\u2019 at the International Trade Finance Awards 2019 and \u2018Best Islamic Trade Finance Provider\u2019 and \u2018Best Online Cash Management in the Middle East\u2019 and \u2018Best Islamic Digital Bank\u2019 by Global Finance. The bank was also named \u2018World\u2019s Best Islamic Bank\u2019 by the FT\u2019s The Banker Magazine, \u2018Best Premium Banking Service in the UAE\u2019 from Banker Middle East, and \u2018Best Islamic Bank\u2019 at the EMEA Banking Awards.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank to successfully execute trade finance distribution transactions using Blockchain technology. The cross-border transactions, which were completed with multiple based banks, were made possible through ADIB\u2019s partnership with TradeAssets, a trade finance e-marketplace powered by Blockchain technology to help digitize […]<\/p>\n","protected":false},"author":1,"featured_media":1565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"rttpg_featured_image_url":{"full":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",1200,800,false],"landscape":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",1200,800,false],"portraits":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",1200,800,false],"thumbnail":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6-150x150.jpg",150,150,true],"medium":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6-300x200.jpg",300,200,true],"large":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6-1024x683.jpg",1024,683,true],"1536x1536":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",1200,800,false],"2048x2048":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",1200,800,false],"post-thumbnail":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",630,420,false],"graptor-sq-xs":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2020\/05\/BC-6.jpg",100,67,false]},"rttpg_author":{"display_name":"admin","author_link":"https:\/\/web3unplugged.io\/blog\/author\/admin\/"},"rttpg_comment":0,"rttpg_category":"Uncategorized<\/a>","rttpg_excerpt":"Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has become the first Islamic bank to successfully execute trade finance distribution transactions using Blockchain technology. The cross-border transactions, which were completed with multiple based banks, were made possible through ADIB\u2019s partnership with TradeAssets, a trade finance e-marketplace powered by Blockchain technology to help digitize…","_links":{"self":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/1564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/comments?post=1564"}],"version-history":[{"count":1,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/1564\/revisions"}],"predecessor-version":[{"id":1566,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/1564\/revisions\/1566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/media\/1565"}],"wp:attachment":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/media?parent=1564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/categories?post=1564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/tags?post=1564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}