Al Baraka Islamic Bank has partnered with SADAD, a Ripple-enabled platform.
Ripple’s XRP token could be poised to benefit from the massive traction the company is gaining.
Cryptocurrency-based payments service provider Ripple is expanding its presence in the Middle East and North Africa (MENA) region. Al Baraka Islamic Bank (AIB), a Central Bank of Bahrain licensed Islamic bank, has signed onto SADAD Bahrain, a leading payments gateway channel in Bahrain that is Ripple-enabled.
According to a press release by SADAD, the joint cooperation agreement makes Al Baraka Bank the first Islamic bank to utilize its services which include payment acceptance, payment processing, and developing various customized payment solutions.
Hamad Abdulla Al Oqab, the Chief Executive Officer of Al Baraka Islamic Bank, said in a statement that the strategic agreement is part of AIB’s continuous endeavor to enhance its banking service and would elevate the digital customer experience.
Mohammed Refaat Al-Ka

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