Dukhan Bank went live on JP Morgan's Kinexys blockchain network on August 3, becoming Qatar's first Sharia-compliant lender to join the platform. The move opens 24/7 cross-border settlement for the bank's corporate and institutional clients, eliminating the friction of traditional banking hours and weekend closures that have long slowed international transfers.
The bank becomes the ninth major Middle East player on Kinexys since the platform launched. JP Morgan's blockchain deposit account system converts client cash into tokens on its own regulated blockchain, settling transactions almost instantly rather than waiting days for correspondent bank chains to clear. For treasury teams managing money across multiple time zones, that matters.
Speed as competitive edge
Ahmed I. Hashem, Dukhan Bank's acting Group CEO, said the launch reflects the institution's commitment to "delivering innovative, Sharia-compliant solutions that respond to the evolving needs of our clients." He highlighted how the technology sharpens "the speed, transparency, and efficiency of cross-border payments," according to the bank's statement.
Kinexys keeps settlement channels open around the clock with no breaks for weekends or public holidays. That constant availability removes a long-standing constraint for operations desks juggling payments across the Gulf, Asia, and beyond. The network also supports programmable payments, allowing clients to automate settlement logic rather than executing transfers manually.
The expansion deepens JP Morgan's footprint among Gulf banks and signals growing institutional appetite for blockchain-based payment infrastructure in the region.
This article is for informational purposes and does not constitute financial or investment advice.
