A GOOD ONE FOR...

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.