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Dubai / Emirates Business
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, announced that it will introduce blockchain technology into its cheques as a fraud prevention measure. Termed ‘Cheque Chain’, Emirates Islamic is the first Islamic bank in UAE to undertake this initiative to enhance security in the popular payment method. Emirates Islamic will issue new cheque books carrying a unique QR (Quick Response) code on every leaf, along with a string of 20 random characters.