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The latest announcement comes from Saudi Arabia, where the Islamic Development Bank will use the Blockchain-based financial platforms to communicate with Muslim clients.
The Islamic Research and Training Institute seeks to create platforms that correspond to the sharia through partnerships with Ateon and the Belgian SettleMint.
According to the announcement:
"Involving the IDB, a multilateral development agency, could also encourage other fiintech firms to include Islamic finance to use markets throughout the Middle East, Asia and Africa. Islamic finance follows religious principles, such as a ban on gambling and outright speculation, but so far the sector has focused on traditional retail banking services. "
Recent announcements from other governments have shown that Blockchain technology penetrates various national and institutional arenas. The recent release of the MasterCard B2B payment platform, based on Blockchain technology, is widely used to implement Blockchain technology in various aspects of the financial sector.
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