Abu Dhabi – Abu Dhabi Islamic Bank  has become the first Islamic bank that went live on the UAE’s KYC (Know Your Customer) Blockchain Platform.

Through the platform, which is a national ecosystem for the exchange of verified KYC data between licensing authorities and financial institutions, all authenticated and validated KYC data of firms will be shared with financial institutions of their preference.

KYC Blockchain Platform is expected to accelerate the opening of bank accounts for newly registered companies .