Qatar Turns to Hedera Blockchain for Islamic Finance Innovation Pilot

• Blockchain-based digital receipts can enhance transparency and efficiency in Islamic finance.
• Collaboration among QFC, Blade Labs, and Hashgraph drives innovation in Shariah finance.
• Hedera-powered infrastructure ensures scalable, secure, and compliant blockchain operations.

The Qatar Financial Centre (QFC) has launched a blockchain-based proof of concept aimed at modernizing Islamic finance. Built under QFC’s Digital Asset Lab, the pilot showcases how blockchain can bring greater transparency, efficiency, and regulatory alignment to Shariah-compliant products.

The project is anchored by a partnership between AlRayan Bank, Blade Labs, and Hashgraph, combining regional banking expertise with enterprise blockchain infrastructure.

Digital Receipt System Built on Hedera

At the core of the pilot is a Digital Receipt System (DRS) designed to streamline asset-backed financing. Running on HashSphere, a private ledger powered by Hedera Hashgraph and hosted on Google Cloud, the system ensures secure, scalable operations that comply with Shariah law.

The DRS allows Islamic finance institutions to track and validate transactions in real time, potentially cutti…

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