The Islamic Corporation for the Development of the Private Sector (ICD) plans to introduce a blockchain-based product to help Islamic banks manage their liquidity needs.
Al Hilal Bank is the first Islamic bank in the world to leverage Blockchain technology for the resale and settlement of an Islamic Sukuk.
The Global Islamic Economy Summit 2018 in Dubai concluded with a call for halal industries to embrace innovative technologies in order to ensure their sustainable growth.
The adoption of blockchain, artificial intelligence, cryptocurrencies and other advanced technologies are expected to have a positive impact on the global Islamic finance sector and create new benefits and opportunities for banks and consumers alike, according to experts at GIES 2018.
Dubai-based blockchain startup ArabianChain Technology has signed a joint venture with Dubai-and-London-based innovation firm Curiositas to create Wethaq.
FinTech Hive at DIFC has announced that its upcoming programme will expand its themes to include insurance, Islamic finance, and regulatory technology services.
The UAE has ranked third in an analysis of Islamic Fintech start-ups, according to a survey issued today by Bloomberg Intelligence.
Algo Bahrain will support the regional Islamic banking sector through the R&D of fintech products and other innovative, sharia-compliant banking solutions.