The Saudi Arabian National Commercial Bank is partnering up with Ripple and will start operating using new technology by the end of this year.
Ripple is going to help the bank to establish connections with different financial institutions. The National Commercial Bank will start out from Singapore and move on to other establishments in Asian and American states.
As we reported earlier, the financial system in islamic countries must be compliant with the Shariah law, which basically controls all spheres of life of muslim people. The first technology to get approved by the Shariah Advisory Board was Stellar. It seems like Ripple is following closely and will soon expand over to the Arabic market.
We remind you:
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/