Dubai
UAE lender Abu Dhabi Islamic Bank (ADIB) is renewing its focus on providing shariah-compliant trade financing in the region, driving in more transactions via digital platforms in the wake of COVID-19. The bank saw a strong start to the year by introducing products that are essential for clients to manage their finances but have hitherto been overlooked in Islamic banking and trade financing (in such areas as export financing and trade receivables financing). However, with COVID-19 taking a toll on all sectors of trade and economy, the bank is not wasting any time to ramp up reliance on technology. Haytham El Maayergi, Global Head of Transaction Banking at ADIB, told Zawya: “We are now executing more Islamic trade finance transactions through our digital platform, ADIB Direct, which allows for secure, seamless.—Reuters/Zawya
