The issuing of the world’s first Islamic bond using blockchain. Al Hilal Bank used blockchain technology to transact a secondary market deal of a $500m bond. Given the thriving economies of many Islamic countries, we are likely to see many more banks using the transparency and efficiency that can be achieved by issuing bonds on a blockchain. One of the key components of a Sukuk bond is that of transparency in that all the costs and charges are open and clearly stated and this lends itself to a technology like blockchain where there is one ledger that holds all the relevant for the buyer and seller to see in a very open transparent manner.
