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The UAE decides to issue a digital currency and support the digital transformation of the financial sector
- Time: 07/12/2021 13:05:06
- Reading: 169 times
{Economic: Al Furat News} The Central Bank of the Emirates announced its most important directions during the period from 2023-2026, through which it seeks to be among the top 10 central banks in the world, according to the Emirates News Agency (WAM).
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The Central Bank’s directions in the coming years are based on achieving 7 goals, including issuing a digital currency and supporting digital transformation in the financial services sector, by adopting the latest technologies in artificial intelligence and big data.
The directions include “the use of technology in regulatory and insurance systems, and the use of digital identity infrastructure, to enhance financial inclusion and access to financial services faster and better.”
In addition to the "objective to develop a strong and secure financial cloud infrastructure for the services of the financial and insurance sectors", the directions include supporting the green economy in the UAE, continuing to develop the financial infrastructure, and promoting innovations to support the UAE's competitiveness in this field.
Forgiveness of Lights
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