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Dukhan Bank said in a statement posted on the Qatar Stock Exchange that it had become the first Islamic bank in Qatar to integrate with the Kinexys Blockchain Deposit Account network developed by J.P. Morgan. The platform supports 24-hour-a-day, seven-day-a-week cross-border payments including on weekends and holidays in major global currencies along with near-instant settlement. It further provides programmable payments and improved liquidity management for corporate and institutional clients with time-sensitive international requirements.
Acting Group Chief Executive Officer of Dukhan Bank Ahmed I. Hashem said, “Going live on Kinexys’ Blockchain Deposit Account network reflects Dukhan Bank’s commitment to delivering innovative, Sharia-compliant solutions that respond to the evolving needs of our clients. By leveraging blockchain technology, we are enhancing the speed, transparency, and efficiency of cross-border payments, while supporting modern treasury requirements and strengthening our digital capabilities.” The announcement described the step as part of the bank’s ongoing digital transformation.
Global Head of Product Sales and Solutions at Kinexys by J.P. Morgan Akshika Gupta said in the release, “Kinexys’ Blockchain Deposit Account network enables banks to offer clients real-time, 24/7 cross-border payments and efficient, always-on settlement.” Gupta added that eight of the region’s largest banks already leverage the network and that the platform would help Dukhan Bank expand its payment capabilities. She stated that the focus remains on assisting financial institutions across the Middle East with the next phase of digital payments.
J.P. Morgan figures show the Kinexys platform has processed more than 3 trillion dollars in transaction volume since inception with average daily transaction volume exceeding 7 billion dollars. A J.P. Morgan assessment found strong adoption across the MENA region with institutions including Qatar National Bank now live on the system. Harvard Business School published a case study in March 2026 that examined how the platform builds bank money on blockchain technology.
An IMARC Group assessment projects the Qatar Islamic finance market to expand at a compound annual growth rate of 9.76 percent from 2026 to 2034. Mordor Intelligence data places the global Islamic finance market at 5.1 trillion dollars in 2026 with growth forecast at 10.7 percent annually through 2031. Fitch Ratings reported in February 2026 that Qatari Islamic banks are expected to sustain sound financial metrics in 2026 backed by healthy financing growth.
The bank said the network’s transparency, security and real-time settlement features align with Islamic finance principles of clarity, certainty and efficiency. Dukhan Bank’s integration adds it to the expanding group of global institutions using the infrastructure for modernised cross-border operations and liquidity optimisation. The statement noted that such blockchain solutions are gaining traction within Sharia-compliant banking frameworks in Qatar and the wider region.
