One of the UAE’s nine objectives is the research and development of a central bank digital currency CBDC.
UAE Launches 'Financial Infrastructure Transformation' Program; CBDC Among 9 Key Objectives
United Arab Emirates CBDC Initiative to Address Inefficiencies in Cross-Border Payments and Drive Domestic Innovation The nine initiatives included in the Financial Infrastructure Transformation Program include: a domestic card scheme, eKYC, a central bank digital currency , open finance, supervisory technology, an innovation hub, an instant payments platform, a financial cloud, and enhancing customer experience. The CBDC is designed for both cross-border payments and domestic use, with the goal of addressing inefficiencies in cross-border payments and promoting innovation in domestic payments.
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