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Title :  Dilip Rao: Ripple can help the Islamic banks transform their systems and extend the range of
Lasting :   5,56
User :  Moogukora
Date of publication :   2019-10-30
Views :   620
Liked :   364
Downloaded once :   526


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Description Dilip Rao: Ripple can help the Islamic banks transform their systems and extend the range of

Blockchain technology, Domino has been perceived as an innovation with many possibilities. Also, it was detected as a momentum for Islamic Finance in the last time. The fact is that most of the financial institutions, the Islamic world today is going in the recital blockchain technology in General (and not only the Ripple’s) as the way to go. These institutions are considering how to encourage the Sharia-tool, which can help, the cross-border payments and financial inclusions to reduce costs and assist in the administration of the Shari'a certifications.

Islamic start-ups do not seem satisfied with the system, the traditional banking sector, and are growing, therefore looking for the best ways with the help of innovative technology.

The fuse of innovation

Blockchain technology, as the waves&other;s is transparent, it offers better changes in the industry of Finance today, and has to support a milestone for the Islam, with innovations. The quality of the executive director in the Shariyah Review for office-and interim-CEO of Shariyah Review of the office, Munir Mansoor said:

and for the artist: "When we speak of innovation in technology or the economy, for example, while Islam recommends, to find solutions to help solve the problems humanity is facing.”

It is important to note that the Islamic Finance industry, the lack of many perspectives, and you will be confronted with problems that probably cannot be solved, the blockchain technology. These topics include the resolution of the conformity with the Sharia contract, and validation. However, many experts in the industry are very happy with the addition of the blockchain technology, such as the Ripple.

I live in Saudi Arabia. The number of persons employed in the neighbouring countries, is amazing. You are here for one reason only, money to send home! Your market is, sir! Good luck and welcome;

After that, many of the Islamic banks and financial institutions, which is due to the use of the technology of the blockchain and the financial management of a company leak this is the Rajhi Bank – one of the largest Islamic banks in the world today. Al Rajhi Bank is known for being the first bank of Islam in Saudi Arabia, the use of the technology, the blockchain, and there will be thousands of transactions per day.

The bank said through a spokesman:

and for the artist, Al Rajhi Bank relies heavily on technology. The Blockchain is just a initiative is part of our growth strategy.” Al Rajhi has a global dimension, from your first success with the use of this technology, blockchain, last year.”

For the promotion of cross-border transactions, If Rajhi, in cooperation with the ripple, and has benefited from the Rippleöblockchain's technology. During this time, the ripple of the & rsquo is said;s global head of infrastructure, innovation, Dilip Rao, that,

and for the artist, Distributed accounting, the latest technology offers collaborative and democratic platform that allows you to reduce costs and expand the reach of financial services for the bancarizados and not bancarizados sectors of the world economy.”

The use of the technology of the blockchain in the middle East is a great player and can contribute to the region's financial sector – as the level of the transfer payments that go in and out of the region.

According to a survey of the First Abu Dhabi Bank, the the total total cost for the transfer of the Fund of the expenditure was in the year 2016, more than 100 million us dollars, and since then, for these payments were very exorbitant. Relevant, Rao said that the banks in the middle East could from the shaft’to facilitate s-technology, transactions and transfers, with a low cost.

The ripple and other blockchain technologies not only promote the transfer of migrants, for the money, but also the problem of the validity of, and Munir (Shariyah Review of the office of the Director-General) explained that the blockchain technology is used to solve the problem of false fatwas and other Sharia-certificates.

There is no doubt, to stimulate the blockchain, the financial systems of Islamic banks and other financial institutions. Domino as the avant-garde of the technology, which will help for the perception of this role is to reduce the discomfort of cross-border transactions in Islamic Finance.

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