The UAE is to establish the world’s first Sharia-compliant trade bank to bolster its ambition to be the centre of the Islamic economic world. The Dubai Islamic Economy Development Centre (DIEDC), under the new chairmanship of Sultan bin Saeed Al Mansouri …
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Establishment of Emirates trade bank in Dubai
The Dubai Islamic Economy Development Centre (DIEDC) is supportive of the initiative from the Department of Economic Development (DED) in Dubai to launch Emirates Trade Bank. His Highness, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of …
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Dubai bank Emirates NBD joins India’s ICICI on blockchain project
The technology will be used for global remittances and trade finance Dubai’s largest bank, Emirates NBD, is working with India’s ICICI on a pilot project to use blockchain technology for global remittances and trade finance, in what they say is a first …
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Dubai Bank directors protest delayed hearing
Dubai Bank Directors accused of money laundering are accusing the prosecution for delaying the hearing of their case. Three former managers of the collapsed bank, Abdul Hafedh Zubeidi, Ali iBashir Sheikh and Professor Wilson Hassan Nandwa argue that the …
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Dubai's Emirates NBD joins India's ICICI Bank on blockchain project
DUBAI (Reuters) – Dubai’s largest bank, Emirates NBD , is working with India’s ICICI on a pilot project to use blockchain technology for global remittances and trade finance, in what they say is a first for banks from the Middle East and India. The project …
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Major banks from India and Dubai complete blockchain trade finance and remittance transactions
India’s largest private bank, ICICI, and one of the middle east’s largest banks, Emirates NBD, recently announced successful international blockchain transactions for both Trade Finance and Remittance purposes. International Trade Finance allows …
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Dubai bank directors complain delay in their case
A Nairobi court has reluctantly granted the prosecution last adjournment in the case where Dubai Bank Directors are accused of money laundering worth over Sh 48 million. Chief Magistrate Daniel Ogembo on Tuesday said the defense have never opposed any …
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