LiquidX completes first Sharia transaction

Thursday 11 October 2018 14:28 CET | News

UK-based bank BLME has completed its first Sharia compliant transaction on the LiquidX Platform by funding another participant in the LiquidX network.

The LiquidX platform handles a range of transactions, including accounts receivables, supply chain finance, inventory finance, loans and insurance. The financial and technological solutions that LiquidX has developed can now benefit Sharia compliant clients globally, according to the company.

LiquidX provides a flexible platform for participants to transact across the trade finance and working capital asset class in one place. LiquidX has executed over USD 13 billion of trade volume and processed USD 52 billion in post trade settlements since 2016.

BLME is a US-based wholesale Sharia compliant bank. BLME has three key business areas: Wealth Management, Commercial Finance and Treasury. BLME is regulated by the Financial Conduct Authority and Prudential Regulation Authority and BLME DIFC Branch is regulated by the DFSA.

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Keywords: LiquidX, UK, Sharia, BLME, wholesale bank, transaction, accounts receivables, supply chain finance, inventory finance, loans, lending, insurance
Countries: World