Latest news with #digitalcurrency
Arab News
2 days ago
- Business
- Arab News
Morocco's central bank explores digital currency cross-border payments
RABAT: Morocco's central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday. A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralized. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions. The bank has been working with the IMF and the World Bank to assess the payment system impacts of its central bank digital currency (CBDC), Jouahri told a conference in Rabat. The Moroccan central bank, together with its Egyptian peer and the World Bank, was also exploring the use of the CBDC for cross-border transfers, he said. A draft law on crypto assets is currently under review by the finance ministry before entering the adoption process, Jouahri said last month.
Yahoo
2 days ago
- Business
- Yahoo
Morocco's central bank explores digital currency cross-border payments
By Ahmed Eljechtimi RABAT (Reuters) -Morocco's central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday. A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions. The bank has been working with the IMF and the World Bank to assess the payment system impacts of its central bank digital currency (CBDC), Jouahri told a conference in Rabat. The Moroccan central bank, together with its Egyptian peer and the World Bank, was also exploring the use of the CBDC for cross-border transfers, he said. A draft law on crypto assets is currently under review by the finance ministry before entering the adoption process, Jouahri said last month.
CNA
2 days ago
- Business
- CNA
Morocco's central bank explores digital currency cross-border payments
RABAT :Morocco's central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday. A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions. The bank has been working with the IMF and the World Bank to assess the payment system impacts of its central bank digital currency (CBDC), Jouahri told a conference in Rabat. The Moroccan central bank, together with its Egyptian peer and the World Bank, was also exploring the use of the CBDC for cross-border transfers, he said. A draft law on crypto assets is currently under review by the finance ministry before entering the adoption process, Jouahri said last month.
Reuters
2 days ago
- Business
- Reuters
Morocco's central bank explores digital currency cross-border payments
RABAT, July 21 (Reuters) - Morocco's central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday. A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions. The bank has been working with the IMF and the World Bank to assess the payment system impacts of its central bank digital currency (CBDC), Jouahri told a conference in Rabat. The Moroccan central bank, together with its Egyptian peer and the World Bank, was also exploring the use of the CBDC for cross-border transfers, he said. A draft law on crypto assets is currently under review by the finance ministry before entering the adoption process, Jouahri said last month.
UAE Moments
2 days ago
- Business
- UAE Moments
Abu Dhabi Now Accepts Digital Currency for Court Fee Payments
Abu Dhabi has officially embraced digital currency for court fee payments, making it the first government department in the Middle East to do so. The Abu Dhabi Judicial Department (ADJD) has partnered with Al Maryah Bank to allow residents to pay legal and judicial service fees using AE Coin, a UAE-regulated stablecoin. The move is part of a broader digital transformation strategy, aiming to streamline financial transactions and offer residents a secure, instant, and fully digital alternative to traditional payment methods. Payments will be processed through the AEC Wallet, giving users a fast and future-focused way to handle court-related expenses. Counsellor Yousef Saeed Al Abri, Undersecretary of ADJD, said the initiative falls in line with the department's wider development strategy, aimed at enhancing access and efficiency in legal services. Mohammed Wassim Khayata, CEO of Al Maryah Bank, emphasized the broader significance: 'It's not merely a technological step; it's about delivering advanced, secure financial experiences that reflect the UAE's values and future vision.' Ramez Rafiq, General Manager of IED Stablecoin—the company behind AE Coin—also praised the development. 'AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE,' he said. 'Its adoption by such a prominent government entity marks a pivotal moment for us and the region's evolving digital finance landscape.' This move sets a regional benchmark for how blockchain and stablecoin payments can be successfully integrated into government operations—starting with the courtroom.
