Bahrain ABC Bank joins R3 distributed books union

nnnBattle of the Bahrain Kingdom Bank ABC will join the R3 distributed books Union news to become the Middle East and North Africa to join the Union’s first of the same type of institutions. The purpose of this collaboration is to provide additional services to customers, through the block chain to help banks achieve strategic objectives.n
nnTranslation: Annien
nThe Bank of Thailand’s Arab Banking Corporation, also known as Bank ABC, said it would join the R3 Distributed Books Union.n
nWith the release of the news, the bank became the first of its kind in the Middle East and North Africa region (MENA) to join the league. Libya’s central bank holdings of Bank ABC operations include Algeria, Egypt, Tunisia, Jordan, and so on.n
nIn the statement, Bank ABC said it planned to use the partnership to provide additional services to customers. The agency said,n
nnBlock chain “will further promote our strategic objectives.”n
nnBank Group Vice President Sael Al Waary said:n
nn”We are committed to continuing to provide our customers with excellent customer service and innovative financial products.” Distributed books (DLT) will help us deliver on our commitment to our customers. “n
nnR3 in May a new round of financing reached 100 million US dollars, then released a month Corda software platform beta version. Although this is the first MENA bank to join R3, Bank ABC is not the only bank in the region that uses potential block-chain applications.n
nIt has been reported that Emirates NBD, one of the largest banking groups in the Middle East, has been working with the UAE central bank to conduct a chain-chain test on bank check fraud.n

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