{"id":34539,"date":"2021-01-11T18:07:42","date_gmt":"2021-01-11T16:07:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34539"},"modified":"2025-08-28T21:04:45","modified_gmt":"2025-08-28T18:04:45","slug":"bangladesh-conducts-its-first-shariah-compliant-blockchain-transaction","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bangladesh-conducts-its-first-shariah-compliant-blockchain-transaction\/","title":{"rendered":"Bangladesh conducts its first Shariah-compliant blockchain transaction."},"content":{"rendered":"<p>City Bank, based in Bangladesh, in partnership with the International Islamic Trade Finance Corporation (ITFC), issued a blockchain-based letter of credit compliant with Sharia law, according to <a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/bangladeshi-bank-executes-first-shariah-based-blockchain-transaction\/\" target=\"_blank\" rel=\"noopener noreferrer\">Finance Magnates<\/a>.<!--more--><\/p>\n<p>Participants in the transaction used the Countour network based on the Corda technology from the R3 consortium. The letter-of-credit operation was financed by ITFC&#8217;s division that specializes in [simple_tooltip content=\u2019\u0442\u043e\u0440\u0433\u043e\u0432\u043e\u0435 \u0441\u043e\u0433\u043b\u0430\u0448\u0435\u043d\u0438\u0435, \u043f\u0440\u0438 \u043a\u043e\u0442\u043e\u0440\u043e\u043c \u043f\u0440\u043e\u0434\u0430\u0432\u0435\u0446 \u043f\u0440\u044f\u043c\u043e \u043d\u0430\u0437\u044b\u0432\u0430\u0435\u0442 \u043f\u043e\u043d\u0435\u0441\u0435\u043d\u043d\u044b\u0435 \u0437\u0430\u0442\u0440\u0430\u0442\u044b \u043d\u0430 \u0442\u043e\u0432\u0430\u0440 \u0438 \u043f\u0440\u043e\u0434\u0430\u0435\u0442 \u0435\u0433\u043e \u0441 \u0437\u0430\u0440\u0430\u043d\u0435\u0435 \u043e\u0433\u043e\u0432\u043e\u0440\u0435\u043d\u043d\u043e\u0439 \u043d\u0430\u0446\u0435\u043d\u043a\u043e\u0439\u2019]murabaha[\/simple_tooltip].<\/p>\n<blockquote>\n<p>&#8220;This transaction will pave the way for improving digital trade with blockchain technology,&#8221; said Sheikh Mohammad Maruf, head of the Wholesale Banking and Trade Services division at City Bank.<\/p>\n<\/blockquote>\n<p>Earlier in September 2020, Brazilian Vale conducted a <a href=\"https:\/\/forklog.com\/en\/news\/vale-completes-first-iron-ore-deal-on-blockchain\">blockchain-based iron ore deal<\/a>.<\/p>\n<p>Earlier, Standard Chartered issued a blockchain-based letter of credit.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news stream, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>City Bank, based in Bangladesh, in partnership with the International Islamic Trade Finance Corporation (ITFC), issued a blockchain-based letter of credit compliant with Sharia law, according to Finance Magnates.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,25,1681],"class_list":["post-34539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-blockchain","tag-islamic-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=34539"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34539\/revisions"}],"predecessor-version":[{"id":34540,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/34539\/revisions\/34540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=34539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=34539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=34539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}