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Gulf Business - - NEWS AND VIEWS -

Al Hi­lal Bank:

The Abu Dhabi bank an­nounced it had ex­e­cuted the world’s first sukuk trans­ac­tion us­ing blockchain tech­nol­ogy. The Is­lamic bank used the dis­trib­uted ledger tech­nol­ogy to sell and set­tle in the sec­ondary mar­ket a small por­tion of its $500m five-year sukuk, is­sued in Septem­ber. A bank spokes­woman said the size of the deal was $1m, sold to a pri­vate in­vestor. Blockchain is ex­pected to sim­plify is­suance and trad­ing.

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