The Central Bank of the UAE (CBUAE) has published a detailed report outlining progress on the Digital Dirham project, part of the country’s broader push towards digital transformation and the upcoming launch of its national digital currency.
The report reviews key milestones achieved so far and provides an in-depth look at the design principles and policy frameworks shaping the Central Bank Digital Currency (CBDC). Emphasising security, reliability and ease of use, the project aligns with global standards set by institutions such as the IMF and BIS.
The introduction of the Digital Dirham will enable offline payments, smart contracts and cross-border capabilities aimed at accelerating transactions and improving payment efficiency. It also has the potential to enhance financial inclusion, particularly for unbanked populations and non-residents.
Gulf Economist Staff Writer