Abu Dhabi’s Al Hilal Bank has executed what it said is the world’s first sukuk transaction using blockchain technology.

The Islamic bank used blockchain to sell and settle in the secondary market a small portion of its $500 million five-year sukuk, or Sharia-compliant bond, issued in September.

A bank spokeswoman told Reuters the size of the deal was $1 million, sold by Al Hilal to a private investor. Read more here.

ThirtyK Staff
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