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Kuwait is considering issuing a digital currency linked to the dinar
KUWAIT: Kuwait's Central Bank is planning to issue a copy of the encrypted digital currency next year on a dinar basis, the Kuwaiti daily Al-Rai reported on Sunday, indicating that the idea had not yet been approved by the bank's board of directors.
"Almost the processing of the necessary infrastructure for the issuance of this currency has been completed," the paper quoted unnamed sources as saying. "If Kuwait offers its own digital currency, there will be a revolutionary change in domestic financial transactions," he said. Local customers will be able to use the Kuwaiti digital currency to buy items, regular necessities, ticketing or even easy acquisition of real estate without the need for conventional payment methods .
The sources told the newspaper that the Central Bank of Kuwait is "not the only Gulf" which plans to issue a special digital currency as both the Saudi Arabian Monetary Agency (SAMA) and the Central Bank of Qatar in a desire to issue a similar digital currency.
Views 107 Date Added 28/01/2018
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KUWAIT: Kuwait's Central Bank is planning to issue a copy of the encrypted digital currency next year on a dinar basis, the Kuwaiti daily Al-Rai reported on Sunday, indicating that the idea had not yet been approved by the bank's board of directors.
"Almost the processing of the necessary infrastructure for the issuance of this currency has been completed," the paper quoted unnamed sources as saying. "If Kuwait offers its own digital currency, there will be a revolutionary change in domestic financial transactions," he said. Local customers will be able to use the Kuwaiti digital currency to buy items, regular necessities, ticketing or even easy acquisition of real estate without the need for conventional payment methods .
The sources told the newspaper that the Central Bank of Kuwait is "not the only Gulf" which plans to issue a special digital currency as both the Saudi Arabian Monetary Agency (SAMA) and the Central Bank of Qatar in a desire to issue a similar digital currency.
Views 107 Date Added 28/01/2018
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