KUALA LUMPUR: Infinity Blockchain Ventures Malaysia Sdn Bhd (IBVM), which provides advisory services on adopting blockchain technology, has formed a strategic partnership with Islamic finance advisory firm, Masryef Management House (MMH), to build a blockchain community in the banking and finance sector.
Both parties would cooperate in spreading awareness as well as doing training, research and events on blockchain and distributed ledger technology (DLT), said IBVM regional head and managing director (Malaysia) Cris D. Tran.
“There will also be a joint effort in providing consulting services to financial institutions in Southeast Asia and the Middle East region,“ he told reporters after the strategic partnership agreement signing ceremony today.
According to him, blockchain has the potential to change how industries work and allows businesses to be more transparent with their clients.
“Through the partnership with MMH, we are looking at expanding it to the Islamic finance sector which prides itself on transparency and trustworthiness.
“Sharing the same core beliefs, both the blockchain and Islamic finance sectors can potentially have great synergy which can bring a major change to the industry in the future,“ Tran added.
MMH principal Khairil Anuar Mohd Noor said blockchain and DLT would be able to assist in enhancing the operations in banking, particularly in areas of data security and operational risks mitigation. – Bernama
