Abu Dhabi financial center unveils tie-up to develop blockchain sukuk transactions

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Nov 28,2018 10:08 AM

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[…] Abu Dhabi Global Market (ADGM) announced that it has partnered Al Hilal Bank and fintech firm Jibrel Network with the aim of developing and testing blockchain-based sukuk transactions in its Regulatory Lab. A sukuk refers to an Islamic financial certificate that is Sharia-compliant, or complies with Islamic religious law. A sukuk is very similar to a bond in Western finance. The Abu Dhabi-based Al Hilal Bank, along with Jibrel Network, successfully piloted the first Shariah-compliant purchase and settlement of a sukuk transaction using blockchain. Read more […]