CBUAE Releases Report Highlighting Progress on Digital Dirham and Future CBDC Rollout
As part of the Financial Infrastructure Transformation (FIT) programme, the report explores the Digital Dirham's design, policy framework, and pilot projects. Key features include offline usability, smart contracts, and cross-border transactions. The initiative aims to enhance payment efficiency, drive financial inclusion, and support the digital economy.
The CBUAE emphasized its commitment to international standards by aligning the Digital Dirham's development with guidelines from the IMF and BIS. It also showcased its collaboration with strategic partners to ensure seamless adoption. Governor Khaled Mohamed Balama described the project as a cornerstone in shaping the UAE's future financial infrastructure.
A full platform—including a digital wallet—has already been developed to support commercial and peer-to-peer transactions. The currency will serve as a secure digital alternative to cash, supporting both residents and non-residents.
News Source: Emirates News Agency
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