Dubai government and Maerse Bank jointly launch blockchain-based mortgage platform

According to local media The Nation, Dubai's Ministry of Lands (DLD), a subsidiary of the Dubai Government Executive Committee, has partnered with the United Arab Emirates Mashreq Bank to launch a blockchain-based home mortgage platform. The platform serves as a repository for mortgage records, confirming that mortgages follow the registration policy. The platform also updates ongoing records after the property is sold, such as record clearing and payment defaults or mortgage changes. The platform is one of DLD's streamlined services initiatives to strengthen and accelerate the home mortgage registration process.