Dukhan Bank has become the first Islamic bank in Qatar to adopt Kinexys by J.P. Morgan’s Blockchain Deposit Account network, marking a major milestone in the country’s banking sector as financial institutions accelerate the adoption of blockchain-powered payment infrastructure.
The launch enables Dukhan Bank to provide corporate and institutional clients with real-time cross-border payment services operating around the clock, including weekends and public holidays. The move forms part of the bank’s broader digital transformation strategy aimed at meeting the growing demand for faster, more efficient treasury and payment solutions.
Kinexys, J.P. Morgan’s blockchain payments platform, supports instant settlement across major global currencies while offering programmable payments and enhanced liquidity management. The technology is designed to improve the speed, transparency, and reliability of international transactions for financial institutions and their customers.
Ahmed I. Hashem, Acting Group Chief Executive Officer of Dukhan Bank, said the implementation demonstrates the bank’s commitment to delivering innovative financial services that remain fully compliant with Sharia principles. He noted that blockchain technology strengthens the efficiency and transparency of cross-border payments while enhancing the bank’s digital capabilities to support evolving client requirements.
Akshika Gupta, Global Head of Product Sales and Solutions at Kinexys by J.P. Morgan, said the platform enables banks to offer customers 24/7 cross-border payments and continuous settlement services. She added that Dukhan Bank’s integration further expands Kinexys’ presence in the Middle East, where several of the region’s leading banks already utilize the blockchain network to modernize payment operations.
The implementation also highlights the increasing role of blockchain technology in Islamic finance. Its ability to provide transparent, secure, and real-time transaction processing aligns with core principles of clarity, certainty, and operational efficiency that underpin Sharia-compliant financial services.
By joining the Kinexys network, Dukhan Bank becomes part of a growing group of international financial institutions adopting blockchain infrastructure to streamline cross-border payments, improve liquidity management, and support the next generation of digital financial services.
