In a recent LinkedIn post, Zul Javaid, CEO of UAE Trade Connect, the UAE’s first trade finance platform to combat fraud, announced that they had hired Wissam Massud to lead their international expansion.
As per the post, Massud will define market-entry strategies as UAE Trade Connect widens its horizons to GCC, other Middle East, Africa countries.
In the post, Javaid states, “We know that UTC’s unique #blockchain technology addresses a real-life pain for banks and tradefinance lending everywhere, so we fully expect to be knocking on lots of countries’ doors in the coming year.”
Prior to this announcement, In May 2023 Zul Javaid coming back fro a recent participation at Global Trade Review conference in KSA had noted that UAE Trade Connect was interested in offering its solutions to the Saudi Arabian banking sector.
As per Javaid, “The Kingdom of Saudi Arabia is a robust banking market, and we are very keen to bring our unique blockchain and AI based engine into the country to help banks de risk their trade finance lending.”
UAE Trade Connect currently has 11 UAE banks among its members and has surpassed $27 million in transactions identifying interbank duplicate financing and preventing fraud attempts.
