ADIB joins e& enterprise blockchain platform UAE Trade Connect

ADIB joins e& enterprise blockchain platform UAE Trade Connect

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, announced today that it has become an official member of UAE Trade Connect (UTC). As part of the membership agreement, this partnership is aimed to strengthen the Bank’s digital transformation strategy and increase the transparency and security of its services.

This collaboration further reinforces ADIB’s role as the leading innovative Islamic bank in the region, utilising the UAE Trade Connect platform to detect fraud and dubious transactions in the trade finance area.

UTC is the fintech blockchain platform of e& enterprise, from e& (formerly known as Etisalat Group) and is the first commercialised blockchain platform to come out of the UAE. UTC’s multi-award-winning platform aspires to be the national trade finance platform and is already enhancing its capabilities to provide in-depth information about suspicious elements of invoices presented for financing.

Faisal Abu Shaar, Group Chief Risk Officer at ADIB said: “We are pleased to partner with UTC as we focus on proactively mitigating risks of fraud and developing a safe and transparent online banking ecosystem. 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