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JSCB "ARCADA" and INDUSTRIAL INNOVATION GROUP (UAE) discussed the directions of further cooperation within the framework of the Memorandum on creation of a financial-industrial alliance with the purpose of launching the first regional product - a platform for data exchange KYC ("KNOW YOUR CLIENT"), signed by the parties 16.10.2019 in Kyiv.

ARKADA Bank President Palyvoda K. and INDUSTRIAL INNOVATION GROUP CEO Taryam Matar Taryam dedicated their work meeting to the 48th United Arab Emirates National Day. In the framework of the business conversation, the partners identified specific tasks in the process of implementing the first blockchain data in Ukraine and the unit of measure “OdIn” as the basis of the electronic platform “Electronic Ukraine”.

On the occasion of this holiday, December 02, 2019, the UAE Embassy in Ukraine hosted an official celebration, which invited well-known Ukrainian statesmen, politicians and representatives of big business. Opening the event, UAE Ambassador Extraordinary and Plenipotentiary to Ukraine Salem Ahmed Al-Kaabi emphasized that the UAE and Ukraine have many common interests in different spheres of life, because the basic values ​​and approaches in the issues of social development coincide. He noted that the bilateral relations between the UAE and Ukraine are multifaceted, rapidly gaining momentum and underpinned by broad trade and economic ties.

The development of mutually beneficial cooperation between our countries can be exemplified by the cooperation between JSCB "ARCADA" and the company INDUSTRIAL INNOVATION GROUP (UAE), which is the world leader in IT sphere for scalable identification solutions. President of ARCADA Bank and General Manager of INDUSTRIAL INNOVATION GROUP reaffirmed the need for the implementation of the Memorandum on the Establishment of a Financial and Industrial Alliance and outlined the forthcoming plans for its implementation.

The project of cooperation between partners provides for the creation of a platform that will increase the level of comfort for clients in the banking sector. This concerns speed of banking operations, protection of information and minimization of intermediate steps. Through the introduction of advanced technologies such as blockchain, the initiative will facilitate faster and more secure identification of the customer and the sharing of supporting documentation.