An agreement allows Emirates NBD customers to settle their payments via Parteur

Emirates NBD Bank announced the conclusion of a strategic agreement with Parteur to discuss its participation in its platform based on Blockchain technology to settle transactions and payments, in a cooperation that will allow the bank’s customers to complete their payments 24 hours a day, 7 days a week, in a faster, simpler and more efficient manner. .

Under this partnership, Emirates NBD will join the Parteur network, becoming the first bank in the region to settle transactions and payments in UAE dirhams, Saudi riyals, and Indian rupees on the platform.

The bank also aspires to be a participating bank in settling transactions and payments in major foreign currencies, which will enhance the portfolio of innovative services and solutions it provides to its customers to make payments in real time.

The Partior platform was launched in 2021 with the support of DBS Bank, JP Morgan, Standard Chartered, Temasek Holdings, and BEC XV.

The platform played a pioneering role in developing a unified record of payments based on Blockchain technology, which allows transactions to be settled and cleared in real time to obtain immediate liquidity with complete transparency. This platform also helps to overcome the challenges usually associated with the sequential processing of transactions in traditional payment systems.

In addition, Emirates NBD revealed that it is studying the possibility of acquiring a stake in the “Parteur” platform in a strategic step that represents a consensus within the financial system to improve the future of global transactions for the exchange of value.

Ahmed Al Qassim, Head of Business Banking at Emirates NBD Group, said: “Our partnership with the Parteur platform is an important element in our comprehensive strategy to adopt new technologies to keep pace with developments in the ever-changing digital landscape. Through this partnership, we also confirm our firm commitment to innovation, stemming from We were keen to provide our customers with the latest advanced financial solutions.”

He added: “By taking advantage of the innovative blockchain technology on the Parteur platform, our operations will be more prepared to keep pace with the future, while laying the foundations for a seamless payment infrastructure to support the changing needs of our customers in the business sector.”

For his part, Humphrey Fallenbreder, CEO of the Parteur platform, said: “Through this strategic cooperation, Emirates NBD will provide a gateway for the platform to enter the Middle East, North Africa and Turkey, a thriving region full of potential, in line with our strategic plans to expand our presence in the East.” “The middle.”