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Dubai Economy and DIFC join hands to unify corporate e-KYC platforms reporters@khaleejtimes.com Filed on April 6, 2021
Dubai Legal Affairs Department (LAD) to play a pivotal role in assisting Dubai Economy and DIFC in formalising the legal framework for the unified platform.
The founding consortium members include Dubai Economy, Dubai International Financial Centre, Emirates NBD, Emirates Islamic, Commercial Bank of Dubai, HSBC, Abu Dhabi Commercial Bank, RAKBANK and Mashreq Bank.
Dubai Economy and Dubai International Financial Centre (DIFC) Authority have signed an agreement to consolidate efforts and expand the UAE KYC (Know Your Customer) Blockchain Consortium positioning it as the national corporate e-KYC Platform, making it the first such platform in the region. It will facilitate faster, more secure and streamlined customer onboarding and allow sharing of verified e-KYC data between licensing authorities and financial institutions through advanced distribute
• For exchange of KYC data between licensing authorities and financial institutions
• Dubai Legal Affairs Department (LAD) to play a pivotal role in assisting Dubai Economy and DIFC in formalising the legal framework for the unified platform
• The founding consortium members include Emirates NBD, Emirates Islamic, Commercial Bank of Dubai, HSBC, ADCB, RAKBANK and Mashreq Bank.
Dubai, 6 April 2021: Dubai Economy and Dubai International Financial Centre (DIFC) Authority have signed an agreement to consolidate efforts and expand the UAE KYC (Know Your Customer) Blockchain Consortium positioning it as the national corporate e-KYC Platform, making it the first such platform in the region. It will facilitate faster, more secure and streamlined customer onboarding and allow sharing of verified e-KYC data between licensing authorities and financial institutions through advanced distributed technologies.
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